Bristol-Myers Squibb and Allergan have signed a global agreement for a neuropathic pain treatment candidate currently under Phase II development by Allergan.
Under the terms of the agreement, Bristol-Myers Squibb will gain exclusive worldwide rights to develop, manufacture and commercialise the molecule and backup compounds.
The deal includes all potential indications, although Allergan will retain certain rights in ophthalmology indications for products formulated for local delivery to the eye.
“There is significant unmet medical need for a more efficacious and tolerable therapy for neuropathic pain,” said Francis Cuss, Senior Vice President, Discovery and Exploratory Clinical Research, Bristol-Myers Squibb. “We are pleased to have the opportunity to develop this potential first-in-class compound that could help patients prevail over chronic pain and strengthen our neuroscience pipeline.”
Bristol-Myers Squibb will pay Allergan an up-front payment of $40 million, up to a further $373 million in potential milestone payments and royalties on worldwide sales.
“We are fortunate to have a deep R&D pipeline, and believe that by partnering programs that extend into primary care, we can maximise the value of our science,” said Scott Whitcup, Executive Vice President, Research & Development and Chief Scientific Officer, Allergan. “We are excited to have a partner interested in our technology and committed to developing AGN-209323 for neuropathic pain.”
The collaboration agreement is subject to antitrust clearance by the United States Federal Trade Commission and Department of Justice.