Bristol-Myers Squibb (BMS) recently with the French biotechnology company Oncodesign reached a strategic cooperation to help find new ways to attack cancer, the earlier agreement signed by both parties aimed to find some promising projects. Under the agreement, Oncodesign will receive a $ 3 million advance for starting screening some proprietary macrocyclic compound molecules for Bristol selected a group of targets. In addition, Oncodesign company is also expected to receive up to $ 80 million milestone payment from each of the potential targets in.
This cooperation may include multiple therapeutic areas. Under the agreement, Oncodesign will be responsible for identifying drug candidates, after which the project delivered US conduct preclinical and clinical development of Bristol. Bristol-Myers will have exclusive commercialization rights of any products arising from cooperation, Oncodesign will qualify for related products in the future commercial sales of royalties and milestone payments.
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