(From AFX Europe (Focus))
LONDON (AFX) - Bristol-Myers Squibb Company and Adnexus Therapeutics announced a worldwide strategic alliance to discover, develop and commercialise Adnectin-based therapeutics for important oncology-related targets.
The companies aid the goal of the collaboration is to discover and develop biologic compounds specifically tuned to modulate oncology targets of high clinical impact.
Under the terms of the agreement, Bristol-Myers Squibb will provide some 30 mln usd over the next three years to Adnexus, consisting of upfront and guaranteed research payments.
Adnexus also is eligible to receive regulatory milestone …