Issue Date: May 19, 2008
Bristol-Myers, KAI Link For Heart Drug
Bristol-Myers Squibb has signed an agreement to develop and commercialize a heart drug from the California biotechnology firm KAI Pharmaceuticals. BMS will pay KAI $25 million upfront and up to $192 million in milestone payments. It may also buy $10 million of KAI stock if the firm holds an initial public offering. The drug, KAI-9803, is an isozyme-selective inhibitor of the delta protein kinase C pathway and is designed to reduce the deleterious effects of a heart attack. It is expected to enter Phase IIb clinical trials by the end of the year.
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