Please login to the form below

Not currently logged in
Email:
Password:

B-MS acquires Allergan's pain medicine

Bristol-Myers Squibb has entered into a global agreement for Allergan's investigational neuropathic pain medicine, AGN-209323

Bristol-Myers Squibb (B-MS) has entered into a global agreement for Allergan's investigational neuropathic pain medicine, AGN-209323, a phase II-ready, orally administered small molecule currently in clinical development.

The agreement will see New York based global biopharmaceutical company, B-MS, make an upfront payment of $40m to Allergan as well as potential AGN-209323 related development- and regulatory-based milestone payments of up to $373m. Royalty payments on worldwide sales will also be included in the deal.

In return, multi specialty drugmakers, Allergan, will grant exclusive worldwide rights to B-MS for the development, manufacture and commercialisation of AGN-209323 and its backup compounds. Allergan, whose specialities include eye care, neuromodulation and skin care, will retain certain rights for potential indications involving ophthalmology for products formulated for local delivery to the eye.

ExonHit Therapuetics SA, who collaborated with Allergan on the development of AGN-209323 and originally discovered the compound using its profiling technology, will receive an upfront payment of $4m as well as potential related development and
regulatory-based milestone payments exceeding $32m.

Allergan claim the drug could "relieve the symptoms of neuropathic pain through a potential novel mechanism of action."

Francis Cuss, senior vice president, Discovery and Exploratory Clinical Research at B-MS commented on the agreement: "There is significant unmet medical need for a more efficacious and tolerable therapy for neuropathic pain. We are pleased to have the opportunity to develop this potential first-in-class compound that could help patients prevail over chronic pain and strengthen our neuroscience pipeline."

The effectiveness of the collaboration agreement is subject to antitrust clearance by the US Federal Trade Commission and Department of Justice, under the provisions of the Hart-Scott-Rodino Antitrust Improvements Act of 1976, and other customary regulatory approvals. 

4th March 2010

Share

Subscribe to our email news alerts

PMHub

Add my company
Lucid Group Communications Limited

WE’RE ON A MISSION To transform lives through communication that changes behaviour and improves health outcomes....

Latest intelligence

The 17th World Congress on Controversies in Neurology
This year, there was a focus on the rare disease neuromyelitis optica spectrum disorder that strikes suddenly and mainly impacts women...
Archetypes: Rethinking go-to-market expectations to drive commercial success
In this white paper, our consultants analyze trends spanning global policy developments, rising inflation, and increasingly complex customer journeys, and reveal a new data-driven approach to archetyping that crystalizes the...
Tuberculosis – why it remains a major global public health challenge
Innovative collaboration is required to address the major public health challenges around TB and expedite drug development...