Bristol-Myers Squibb announces second pact with Simcere
The firms will co-develop BMS-795311, a preclinical small molecule CETO inhibitor
Bristol-Myers Squibb and Chinese Pharmaceutical firm Simcere Pharmaceutical Group have expanded the partnership formed last year to include a second collaboration in a different therapeutic area. The firms have agreed to co-develop BMS-795311, Bristol-Myers Squibb's preclinical small molecule inhibitor of the Cholesteryl Ester Transfer Protein (CETP). Inhibiting CETP could potentially raise HDL (good cholesterol) levels and help prevent cardiovascular disease.
Under the terms of the agreement, Simcere receives exclusive rights to develop and commercialise BMS-795311 in China, while Bristol-Myers Squibb will retain exclusive rights in all other markets. The firms will together determine the potential of BMS-795311 to treat and prevent progression of cardiovascular disease. Simcere will run and fund initial development work. Financial terms were not disclosed.