Bristol-Myers Squibb and Medivir Announce worldwide collaboration to develop and commercialize treatment of HIV-1 infection
Bristol-Myers Squibb Company and Medivir AB announced a worldwide collaboration to develop and commercialize MIV-170, a preclinical non-nucleoside reverse transcriptase inhibitor, or NNRTI, intended for the treatment of HIV-1 infection in adults as part of an antiretroviral drug regimen.
Terms of the agreement include an upfront payment from Bristol-Myers Squibb of $7.5 million to Medivir. Medivir also may receive pre-specified development and regulatory milestones totaling approximately $97 million from the collaboration, as well as up to double-digit royalties on sales of the product commercialized under the collaboration.
Under the licensing agreement, Bristol-Myers Squibb will be responsible for the worldwide development and commercialization for all countries, excluding the Nordic region, where Medivir has retained the Nordic region commercialization rights.
The MIV-170 project represents a new structural class of NNRTIs. According to the company, a polymerase inhibitor, MIV-170 has demonstrated excellent potency in vitro and an improved barrier to resistance in pre-clinical studies. The MIV-170 compound, pending data results, may provide a new treatment option for HIV patients.
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