Bristol Myers Squibb announces worldwide HIV drug partnership

Bristol-Myers Squibb has announced the signing of a new deal with Medivir for the worldwide development and commercialisation of a new HIV drug.

Medivir, a Swedish-headquartered pharmaceutical development company which is based partly in the Chesterford Research Park, Essex, has developed a new non-nucleoside reverse transcriptase inhibitor (NNRTI) called MIV-170, which is part of a new structural class of NNRTIs.

Bristol-Myers Squibb has paid Medivir an upfront fee of $7.5 million (four million pounds), in exchange for worldwide commercialisation rights, with the exception of the Nordic countries. Medivir has also secured a double-digit royalty agreement, if MIV-170 does become a marketed drug, while other milestones and fees could bring the total value of the deal up to $97 million.

Elliot Sigal, chief scientific officer of Bristol-Myers Squibb and president of the Pharmaceutical Research Institute, stated: “We believe MIV-170 has the potential to provide HIV/AIDS patients another treatment option, and we look forward to working with Medivir to further develop and commercialise the compound.”

He added that the collaboration is “strongly allied” allied with Brtistol-Myers Squibb’s attempt to develop new medicines for treatment areas where there is still a “serious” unmet medical need.

Bristol-Myers Squibb already has some HIV treatments on sale, including atazanavir sulphate (Reyataz), efavirenz (Sustiva), as well as Atripla, a new combination therapy.