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BMS to buy Amira Pharmaceuticals

Bristol-Myers Squibb is to purchase inflammatory and fibrotic disease specialists Amira Pharmaceuticals in an acquisition potentially worth $475m

Bristol-Myers Squibb (BMS) is to purchase inflammatory and fibrotic disease specialists Amira Pharmaceuticals in an acquisition potentially worth $475m.

California-based Amira will receive $325m in upfront payments, with additional milestones totalling $150m.

Once the deal is complete, BMS will have access to Amira's fibrosis programme, including the investigative drug AM152, which is about to enter phase II clinical development.

Amira also has a preclinical programme for autotoxin – an enzyme associated with tumours.

BMS said it will retain Amira's scientists working on these projects.

Elliott Sigal, executive vice president, chief scientific officer and president, Research and Development at BMS, described fibrotic diseases as an area of "high unmet medical need." The Amira acquisition part of the company's plans to diversify its pipeline, he added.

25th July 2011

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