Amphista Therapeutics, a company focused on the development of next generation targeted protein degradation (TPD) therapeutics, has signed a strategic collaboration and license agreement with Bristol Myers Squibb.
The companies will work together to discover and develop small molecule protein degraders. Bristol Myers Squibb will be granted a global exclusive license to the degraders developed and will be responsible for further development and commercialisation activities Through the agreement, Amphista will receive a $30 million upfront payment, the potential for up to $1.25 billion in performance-based milestone payments and payment for a limited expansion of the collaboration, as well as royalties on global net sales of products.
TPD therapies use physiological mechanisms to remove pathogenic protein from the body, offering the potential to access many disease targets previously considered “undruggable.” Amphista’s technology is designed to develop TPD therapeutics based on advanced mechanistic insights and novel chemistry approaches that enable the development of novel protein degrading therapeutics.
Nicola Thompson, CEO of Amphista, said: “Our collaboration with Bristol Myers Squibb is a powerful validation of our advances in TPD research and the capabilities of our Eclipsys next-generation TPD platform. Combining our expertise with Bristol Myers Squibb’s strong legacy and experience in the protein degradation space brings new promise to the potential of delivering more effective new treatments to patients seeking treatment options.”
“Bristol Myers Squibb continues to build its leadership and scientific expertise in the protein degradation space,” said Rupert Vessey, Executive Vice President, Research & Early Development, Bristol Myers Squibb. “We look forward to collaborating with Amphista and using its TPD platform to potentially develop new targeted protein degradation therapies.”
Amphista Therapeutics is also working with Merck Healthcare to discover small molecule protein degraders for an initial three targets in oncology and immunology indications. Amphista will receive an upfront payment, R&D funding and success-based milestone payments of up to €893.5 million as well as royalties in the mid-single digit range. Completion of the transaction is subject to the parties obtaining any necessary regulatory clearances or approvals.
Nicola Thompson, CEO of Amphista, said: “We are extremely pleased to enter into this collaboration with Merck. This is a significant validation of the progress we have made in TPD research and the potential of our Eclipsys next-generation TPD platform. We look forward to working with the Merck team, using our combined expertise to develop new TPD therapies to treat cancers and immuno-inflammatory diseases.”