BMS pays $80M to claim another neuro programme from Prothena
Phase 2License out/inAcquisition
Bristol Myers Squibb has tapped a second neurology-focused candidate from Prothena, spending $80 million upfront to gain an exclusive, global licence to PRX019.
The partners are keeping details for PRX019’s mechanism of action and specific neurodegenerative disease indication under wraps, but they plan to start a Phase I study for the programme by year-end.
Prothena is eligible to receive up to $617.5 million in development, regulatory and sales milestones, as well as tiered royalties.
Deal history
The pharma inherited the partnership with Prothena via its 2019 acquisition of Celgene, which in 2018 had inked a discovery deal with the neurodegenerative diseases firm worth up to $2.2 billion.
Last year, Bristol Myers Squibb exercised its option on the first programme emerging from the agreement, gaining exclusive rights to ProthenaProthena's antibody BMS-986446 (formerly PRX005), which specifically targets an area within the microtubule binding region of tau. The US company has since launched a Phase II trial in 475 patients with early Alzheimer’s disease.
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