Bristol-Myers Squibb and Simcere to develop cardiovascular compound

Bristol-Myers Squibb has announced a new agreement with Simcere Pharmaceutical Group that will see the companies working to develop a new cardiovascular compound.

The organisations have expanded their pre-existing strategic partnership, formed last year, to include a second collaboration in this new therapeutic area, with work focusing on the developmental compound BMS-795311.

It is a preclinical small molecule inhibitor of the cholesteryl ester transfer protein, which is soon set to enter phase IIa testing and could potentially help to stop cardiovascular disease by raising levels of good cholesterol in the body.

Simcere will organise and fund initial development work on the drug in return for exclusive commercialisation rights to the compound in its core market of China.

Dr Francis Cuss, senior vice-president for research at Bristol-Myers Squibb, said: "Working together we are building on the strengths of both organisations to develop potential medicines and help patients."

This comes after Bristol-Myers Squibb announced a new collaboration with Tibotec Pharmaceuticals earlier this month on the development of a new combination hepatitis C therapy.