Issue Date: January 1, 2007
Bristol-Myers inks two research pacts
Bristol-Myers Squibb will work with Exelixis to discover, develop, and market new cancer therapies. Under the deal, Exelixis will receive $60 million in cash up front and $20 million for each of up to three investigational new drug candidates selected by the drug firm. BMS has also entered a two-year drug discovery collaboration with Albany Molecular Research Inc. AMRI will test samples from its natural products library against drug targets in a range of therapeutic areas. The deal includes unspecified up-front payments, research funding, and milestone payments.
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