Issue Date: May 13, 2013
Ambrx And BMS Join For Drug Conjugates
Ambrx and Bristol-Myers Squibb have agreed to discover and develop antibody-drug conjugates using Ambrx’ protein medicinal chemistry technology. In exchange for commercial rights, BMS will supply Ambrx $15 million up front, R&D funding, and up to $97 million per product upon reaching certain milestones. The two companies have worked together since September 2011 on the discovery of biologic drugs. As a result of that work, BMS is currently developing a potential diabetes drug and a heart failure treatment.
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