Bristol-Myers Squibb pays US$175m for iPierian

Bristol-Myers Squibb has acquired iPierian, a South San Francisco-based biotechnology company focused on the discovery and development of new treatments for genetically defined diseases, for US$175m.

The acquisition gives Bristol-Myers Squibb full rights to iPierian’s lead asset IPN007, a preclinical monoclonal antibody that offers a new approach to treating progressive supranuclear palsy (PSP), a rare brain disorder, and has the potential to start Phase 1 clinical trials early next year.

Although the initial development focus for IPN007 would be on PSP, there is potential for future development in difficult-to-treat neurodegenerative disorders such as frontotemporal dementia (FTD) and Alzheimer’s disease (AD), the companies said.

Under the terms of the agreement, Bristol-Myers Squibb could also pay $550m over time in development and regulatory milestone payments, as well as in royalties on net sales.

'As part of our evolution to a diversified speciality biopharma company, we have identified genetically defined diseases as an area where the company has an opportunity to significantly advance the standard of care for patients with limited treatment options,' said Francis Cuss, EVP and Chief Scientific Officer of Bristol-Myers Squibb.

'The acquisition of iPierian supports our growing efforts in this area and builds on Bristol-Myers Squibb’s internal expertise and alliances focused on the Tau pathway and neurodegenerative diseases.'

The Tau protein binds the cell’s internal skeleton and may help regulate the activity of brain cells. It forms abnormal deposits called neurofibrillary tangles which can disrupt activity of brain cells and lead to disease. Additionally, Tau is secreted and may drive disease spread and progression. By identifying targets that prevent or reverse Tau dysfunction, it may be possible to modify the course of a disease.