BMS enters two separate agreement with Biogen and Roche

BMS (Bristol-Myers Squibb) announced that it has entered into two separate agreements with Biogen and Roche to license to compounds.

BMS-986168, an anti-eTau compound in development for Progressive Supranuclear Palsy (PSP) to biogen and BMS-986089, an anti-myostatin adnectin in development for Duchenne Muscular Dystrophy (DMD) to Roche.

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, Inc. related to Bristol-Myers Squibb’s acquisition of the company in 2014.

TO license BMS-986089:- Roche will pay to BMS an upfront payment of $170 million with potential milestone payments of up to $205 million.

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.