Bristol-Myers Squibb Inks Licensing Deals with Biogen, Roche

On April 13, 2017 Bristol-Myers Squibb (BMS) announced that it has entered two separate licensing deals with Biogen and Roche. BMS is licensing BMS-986168, an anti-eTau compound in development for progressive supranuclear palsy, to Biogen for $300 million upfront. The deal with Biogen includes up to $410 million in additional milestone payments. The company is also licensing BMS-986089, an investigational Duchenne Muscular Dystrophy treatment, to Roche for $170 million, with milestone payments of up to $205 million.

BMS will receive tiered double-digit royalties if either treatment is approved and commercialized. The company is licensing both investigational treatments for a combined $470 million in upfront payments. The addition of potential milestone payments mean the deals could total up to more than $1 billion for BMS.

“Licensing these assets to Biogen and Roche will enable Bristol-Myers Squibb to prioritize the other promising opportunities for asset development that have advanced across our diversified portfolio,” said Mike Burgess, head of Cardiovascular, Fibrosis and Immunoscience Development, Bristol-Myers Squibb in a statement. “We recognize the significant unmet medical needs for patients with PSP and with DMD, and are pleased to put the future development of these compounds into the hands of Biogen and Roche, who both have strong capabilities, focus and leadership in neurodegenerative and rare diseases.”