BMS to license anti-eTau and anti-myostatic compounds

Two separate agreements with Biogen and Roche.

“Licensing these assets to Biogen and Roche will enable BMS to prioritize the other promising opportunities for asset development that have advanced across our diversified portfolio,” said Mike Burgess, head of Cardiovascular, Fibrosis and Immunoscience Development, BMS. “We recognize the significant unmet medical needs for patients with PSP and with DMD, and are pleased to put the future development of these compounds into the hands of Biogen and Roche, who both have strong capabilities, focus and leadership in neurodegenerative and rare diseases.”

“Biogen aims to be a leader in Alzheimer’s disease and we are building a pipeline with multiple approaches to address the complex, devastating process of neurodegeneration,” said Michael Ehlers, executive vice president, research & development, Biogen. “Based on encouraging safety and efficacy data, we believe BMS-986168 is a promising anti-tau candidate that may represent the next wave of medicines for Alzheimer’s disease as well as the first real answer for PSP.”

Under the agreement to license BMS-986168, Biogen will pay to BMS an upfront payment of $300 million with potential milestone payments of up to $410 million. Biogen also will assume all remaining obligations to the former stockholders of iPierian, related to BMS’s acquisition of the company in 2014. Under the agreement to license BMS-986089, Roche will pay to BMS an upfront payment of $170 million with potential milestone payments of up to $205 million. BMS will receive tiered double-digit royalties if either asset is approved and commercialized. These agreements are subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act, and are expected to close in the second quarter of 2017.