PeptiDream Announces Milestone in Macrocyclic Peptide Drug Discovery Alliance with Bristol-Myers Squibb
11 June 2015 - 4:38PM
Business Wire
PeptiDream Inc., a Tokyo-based biopharmaceutical company
(“PeptiDream”)(TOKYO:4587) announced today the achievement of a
milestone in one of the discovery programs in its alliance with
US-based Bristol-Myers Squibb (NYSE:BMY). The milestone is the
decision by Bristol-Myers Squibb to designate a Collaboration
Compound as a candidate for exploratory clinical development,
indicating that the compound has met certain pre-defined criteria
and is now suitable for exploratory clinical development. The
compound will now proceed to IND-enabling studies. Achievement of
this milestone entitles PeptiDream to receive an undisclosed
payment specified in the research collaboration and license
agreement between PeptiDream and Bristol-Myers Squibb initiated
October 15, 2010 and extended on October 15, 2012.
[Comments from Kiichi Kubota, President & CEO of
PeptiDream Inc]
“We are very excited about the acceptance of a Collaboration
Compound as a candidate for clinical development by Bristol-Myers
Squibb. This is the first compound identified in the discovery
collaboration to enter IND-enabling studies for Bristol-Myers
Squibb and we look forward to its transition to clinical
investigation. This decision by Bristol-Myers Squibb represents a
key validation of PeptiDream’s peptide discovery platform and its
ability to identify compounds that can be optimized for clinical
studies. ”
About PeptiDream Inc.
In the past five years, PeptiDream has established funded
discovery collaborations with many leading pharmaceutical
companies, such as Amgen, AstraZeneca, Bristol-Myers-Squibb, Eli
Lilly, GlaxoSmithKline, Novartis, Merck, Mitsubishi Tanabe, Daiichi
Sankyo, as well as a strategic collaboration with Ipsen, all of
which are active and ongoing. In addition, PeptiDream has
transferred its PDPS discovery platform for broad use to
Bristol-Myers-Squibb and Novartis.
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version on businesswire.com: http://www.businesswire.com/news/home/20150610006494/en/
Enquiries:PeptiDream Inc.Patrick C Reid,
+81-3-5790-9991 (Tokyo)p-reid@peptidream.com
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