NEW YORK CITY (dpa-AFX) - Atrium Therapeutics, Inc. ( RNA) on Thursday said it earned a $15 million milestone payment from Bristol Myers Squibb Co. (BMY) after successfully delivering a development candidate for a cardiology-targeted compound under their collaboration.
The payment is part of a global licensing and research agreement focused on RNA-based therapies for cardiovascular diseases.
Under the deal, Atrium could receive up to about $1.35 billion in research and development milestone payments and up to $825 million in commercial milestone payments, along with tiered royalties on net sales. Bristol Myers Squibb will fund future clinical development, regulatory and commercialization activities under the partnership.
'This milestone marks a meaningful step forward for Atrium, further expanding our RNA delivery platform and our ability to generate high quality cardiology development candidates,' said Kathleen Gallagher, President and Chief Executive Officer of Atrium Therapeutics.
Atrium shares closed at $13.66 on Wednesday, up 0.96%.
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