BMS signs technology license deal with UK drug discovery company
Bristol-Myers Squibb (BMS) has entered into a technology license agreement with UK drug discovery company, Summit. Under the terms of this agreement, BMS will use Summit’s proprietary Seglin technology to identify and develop drug candidates for up to ten targets across multiple therapeutic areas.
Summit’s technology is targeting high-value areas of unmet medical need, such as Duchenne Muscular Dystrophy and C. difficile infection. Seglin is an innovative drug discovery platform. While the importance of proteins and nucleic acids is well established in drug discovery, the targeting of carbohydrate biology remains largely underexploited. Seglin technology aims to address this issue by using appropriate new chemistry space to access these carbohydrate drug targets.
“Summit is pleased to be partnering with one of the world’s premier biopharmaceutical companies. This agreement with Bristol-Myers Squibb further reinforces our strategy as we seek alternative ways to realise the value of our Seglin technology while we concentrate our resources on advancing our core Duchenne Muscular Dystrophy and C. difficile programmes.”
Glyn Edwards, Chief Executive Officer of Summit.
BMS will be responsible for the discovery stage research and will have exclusive rights to develop and commercialise any Seglin products that are identified under this agreement.
BMS is to give Summit a technology access fee of US $100,000, which will be eligible for research, development and regulatory milestones of up to US $30m per product, plus royalties on worldwide sales of products arising from the technology.
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