Issue Date: January 19, 2009
Bristol-Myers Acquires Hepatitis C Drug
Bristol-Myers Squibb will pay at least $105 million to ZymoGenetics for a novel type 3 interferon in Phase I studies to treat hepatitis C. The Seattle-based biotech firm could collect another $430 million in milestones related to the hepatitis C program and up to $287 million if the drug is approved to treat other diseases. The drug, PEG-interferon lambda, meddles with a receptor that is present in fewer cell types than the one the conventional hepatitis C treatment, interferon alpha, uses to mediate antiviral activity. ZymoGenetics believes its drug could therefore be a more targeted treatment.
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