Prothena’s investigational new drug application for PRX019 was cleared by the FDA in December 2023. Now, Bristol Myers Squibb is paying out $80 million for exclusive global rights.
ProthenaMyers Squibb is again dipping into the well PRX019rapies being developFDAby Prothena, this time fBristol Myers Squibbnse to a neurodegenerative candidate that is about to slide into human testing.
Bristol Myers Squibbtional new drug (IND) application for PRX019 was cleared by the Prothenaecember 2023, and, now, BMS is paying out $80 million for exclusive global rights. The therapy is aimed at an undisclosed target, and a trial is expected to get underway by the end of this year, according to a Tuesday evening press release.
Prothenaion to the opt-in fee, Prothena will be eligible fPRX019elopment, regulatoryFDAd sales milestone payments ofBMS to $617.5 million down the line, plus royalties on sales.
This is the second clinical proProthenaProthenacome out of the Prothena-BMS collaboration after the Big Pharma paid out $55 million for a worldwide license to clinical-phase Alzheimer’s disease candidate PRX005 in July 2023. BMS previously paid $80 million to Prothena for an initial opt-in on U.S. rights to PRX005 in 2021.
Prothena has additional deals with Novoamyotrophic lateral sclerosis ATTR amyloidosis TDP-43ate and Roche, where the companies are developing prasinezumab for Parkinson’s disease, also in phase 2.