Amphista Therapeutics has signed a strategic agreement partnership and a licensing agreement with Bristol Myers Squibb (BMS) to discover and develop targeted protein breakdown therapies (TPDs).

Using physiological mechanisms to eliminate the pathogenic protein from the body, TPD therapeutics provide the potential to access a variety of disease targets that were previously considered “incurable.”

The alliance will use Amphista’s Eclipsys TPD platform to develop new therapies for protein breakdown.

Under the deal, BMS will receive an exclusive international license for small molecule degrading proteins developed by Amphista.

In addition, BMS will monitor the development and commercialization of therapies.

Under the agreement, Amphista is eligible for an advance payment of $ 30 million, as well as up to $ 1.25 billion in basic payments based on BMS results.

BMS will also pay for the controlled expansion of the partnership and will make royalty payments on net sales of products worldwide.

The completion of the transaction depends on obtaining permits or approvals of the companies from the regulatory authorities.

Amphista CEO Nicolas Thompson said: “Our collaboration with Bristol Myers Squibb is a powerful testament to our progress in TPD research and the capabilities of our next-generation Eclipsys platform.

“Combining our experience with the strong heritage and Bristol Myers Squibb’s experience in the protein-degrading space brings new promise to the potential to provide more effective new treatments to patients seeking treatment options.”

Meanwhile, the company has also entered a strategic partnership with Merck Healthcare to discover and develop TPD therapies for three purposes in the oncological and immunological indications in the initial stage.

Merck will make an advance payment, research and development funding and basic payments of up to $ 1 billion (€ 893.5 million) to Amphista, excluding copyright payments.

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