Santaris Pharma has entered into global strategic discovery alliance with Bristol-Myers Squibb for RNA-targeted medicines.
The partnership will leverage Santaris Pharma's proprietary Locked Nucleic Acid (LNA) drug platform for the discovery and development of the novel medicines.
Santaris Pharma president and CEO Henrik Stage said, "We are delighted to welcome Bristol-Myers Squibb as a new partner. This strategic alliance further consolidates Santaris Pharma's leadership in the field of oligonucleotide therapeutics."
According to the deal, Santaris will earn a $10m upfront payment in addition to funding for ongoing discovery and research activities and approximately $90m milestone payments for each product.
Santaris is also eligible for sales based royalties of all medicines resulting from the partnership.
Santaris chief scientific officer and business development VP Dr Henrik Ørum said, "We are confident that the unique features of the LNA Drug platform can achieve clinical breakthroughs and look forward to working closely with the Bristol-Myers Squibb team."
The LNA Drug Platform and Drug Discovery Engine combine the company's LNA chemistry with its highly specialised and targeted drug development capabilities.
The technology is designed to deliver LNA-based drug candidates against RNA targets, both mRNA and microRNA, for a range of diseases such as infectious and inflammatory diseases, cardiometabolic disorders, cancer and rare genetic disorders.
Image: Bristol-Myers Squibb and Santaris Pharma alliannce will develop novel medicines using Locked Nucleic Acid drug platform. Photo: Coolcaesar at en.wikipedia.