Atrium Therapeutics, Inc., a biopharmaceutical company dedicated to delivering RNA therapeutics to the heart, announced it has earned another $15 million milestone payment from Bristol Myers Squibb based on the successful delivery of a lead compound targeting an undisclosed cardiology indication under the Company's ongoing collaboration.
"Atrium's vision is to deliver treatments that address the underlying cause of serious heart disease, including rare genetic cardiomyopathies," said Kathleen Gallagher, President and CEO of Atrium Therapeutics. "Advancing a second lead compound under our collaboration with Bristol Myers Squibb reflects the strength and versatility of our RNA delivery platform, and it gives us continued momentum as we work together to bring novel therapies to patients and families facing significant unmet need."
The payment is pursuant to Atrium's global licensing and research collaboration with Bristol Myers Squibb (BMS) focused on the discovery, development and commercialization of innovative RNA-based therapies for multiple cardiovascular indications.
Under the terms of the agreement, Atrium is eligible to receive up to approximately $1.35 billion in research and development milestone payments, up to approximately $825 million in commercial milestone payments, and tiered royalties up to low double-digits on net sales. BMS will fund all future clinical development, regulatory and commercialization activities coming from the collaboration.