Bristol-Myers Squibb Extends Neuroscience Alliance with Lexicon Genetics
The drug target discovery portion of the alliance encompasses the physiological and behavioral analysis of genes to identify promising new neuroscience targets for the development of small molecule drugs to treat disorders including depression, anxiety, schizophrenia, pain and Alzheimer's disease. The extended term provides for further advanced research on selected targets.
Under the original alliance, Bristol-Myers Squibb has worked with Lexicon on medicinal chemistry, preclinical research and development of drugs addressing promising neuroscience targets. Bristol-Myers Squibb may assume responsibility for clinical development and commercialization of any drugs resulting from the alliance that enter clinical trials.
Under the terms of the alliance, Lexicon received an upfront payment from Bristol-Myers Squibb and, in addition, annual research funding over the initial, three-year research term of the agreement. For each drug developed and commercialized by Bristol-Myers Squibb from the alliance, Lexicon will also receive clinical and regulatory milestone payments and will earn royalties on net sales.
Other news from the department business & finance
Get the life science industry in your inbox
From now on, don't miss a thing: Our newsletter for biotechnology, pharma and life sciences brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.