Dual Therapeutics Enters into Oncology Strategic Collaboration With Bristol-Myers Squibb

Dual Therapeutics, LLC announced a strategic collaboration with Bristol-Myers Squibb (NYSE: BMY) to advance small molecule compounds for the treatment of cancer and other diseases.
According to the Dual Therapeutics press release:

Under the terms of the agreement, Bristol-Myers Squibb will obtain exclusive, worldwide rights to develop and commercialize the small molecule therapeutics discovered by Dual Therapeutics. Bristol-Myers Squibb will pay an undisclosed upfront fee and development costs and Dual Therapeutics will be eligible to receive development and regulatory milestones that could total more than $255 million for a successful compound approved in multiple indications in addition to royalties on future sales of products discovered in the collaboration.

Erik Lium, Vice President and Executive Director of Mount Sinai Innovation Partners, commented:

Mount Sinai Innovation Partners enthusiastically embraces this partnership with Dual Therapeutics and Bristol-Myers Squibb as a seminal next step in translating a discovery made by researchers in the Icahn School of Medicine at Mount Sinai into tomorrow’s cancer therapeutics.

Click here to view the full press release.