Domantis Announces Therapeutic Alliance with Bristol-Myers Squibb
News Dec 06, 2005
Domantis Limited has announced a multi-target discovery collaboration with Bristol-Myers Squibb Company to develop dAb therapeutics for uses in the fields of immunology and oncology.
The collaborators aim to discover a range of dAbs to address therapeutic targets involved in T-cell co-stimulation (part of the human immune response), some of which may not be amenable to targeting with conventional antibody approaches.
Under the terms of the agreement, Domantis will receive $9.2 million in upfront and guaranteed research payments.
In addition, Domantis will be eligible for pre-clinical and clinical milestone payments of up to $20 million per product, as well as royalties on product sales.
Domantis will contribute two of its existing dAb therapeutic programs and will create a range of dAbs to predetermined targets, with Bristol-Myers Squibb having the exclusive right to develop and commercialize dAb therapeutics discovered during the collaboration.
"This is an exciting time for Domantis. We have created a significant revenue stream and product pipeline from our nine partner and grant programs and we expect to close additional deals in 2006 around several of our preclinical dAb programs," said Domantis' CEO Robert Connelly.
"The commitment by Bristol-Myers Squibb is further validation of dAbs as the next generation of antibody therapeutics."
"We believe this alliance could produce several novel dAb therapeutics for the treatment of important diseases such as rheumatoid arthritis, transplant rejection and many others in the fields of both immunology and oncology."