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Bristol-Myers Squibb signs agreement with Endocyte

Date published: 06/01/2006

Bristol-Myers Squibb has entered into a licensing agreement with the US firm Endocyte. The agreement focuses on Endocyte's 'smart drugs' that aim to target particular cancerous cells and work with Bristol-Myers Squibb's chemotherapy agents. It follows the two companies' ongoing collaborative research.

Dr Christopher Leamon, Endocyte vice president of research, said: "Bristol-Myers Squibb has been a terrific partner to work with throughout this collaboration.

"Our goal was to construct a tumour-targeted analog of a very potent drug, one that would preserve efficacy but also reduce the opportunity for negative side effects. We were successful because of the high level of commitment, teamwork and excellence provided by the scientists at both companies."

Under the agreement Bristol-Myers Squibb will be responsible for the development, manufacturing, registration and marketing of any resulting products. The company will also pay a $3 million license payment, milestone payments and royalties on sales.

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