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Home Industry News Bristol-Myers Squibb licenses Oncolys HIV drug

Bristol-Myers Squibb licenses Oncolys HIV drug

21st December 2010

Bristol-Myers Squibb has agreed a global licensing deal for a developmental HIV therapy from Japanese biotechnology firm Oncolys BioPharma.

The company will pay Oncolys up to $286 million (184.5 million pounds) to gain exclusive worldwide rights to manufacture and commercialise festinavir, a once-daily oral therapy that is currently undergoing phase II testing.

Early preclinical studies of the drug have demonstrated that it could deliver a superior safety performance when compared to other nucleoside reverse transcriptase inhibitors.

Brian Daniels, senior vice-president for development at Bristol-Myers Squibb, said the agreement is indicative of the company's dedication to the development of innovative new HIV medicines.

He added: "The profile of festinavir offers the possibility of improvement in the safety of long-term HIV treatment, an area of significant unmet medical need."

This comes after the company published phase III trial data last month that demonstrated the benefits of another HIV treatment it is developing named Reyataz.ADNFCR-8000103-ID-800303467-ADNFCR

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