BMY

Bristol-Myers Squibb Company

79.24
USD
0.13%
79.24
USD
0.13%
53.22 81.17
52 weeks
52 weeks

Mkt Cap 177.02B

Shares Out 2.23B

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Bristol in collaboration pact with tiny biotech SyntheX on targeted protein degraders

Bristol-Myers Squibb (NYSE:BMY) and privately held biotech SyntheX have entered into a collaboration and license agreement to discover small molecule targeted protein degrader therapeutics using SyntheX's ToRNeDO platform. SyntheX will receive an upfront payment and an investment from Bristol (BMY), and is also eligible for $550M in milestone payments, as well as royalties from net sales of products that may be marketed. "Using genetic engineering, SyntheX's platform technologies rely on functional intracellular drug selection as opposed to in vitro screening, which allows the company to discover functional molecular glues using a pre-specified E3 ligase and a neosubstrate of interest," SyntheX said. The collaboration will focus on discovering molecular glue degraders. Check out why Seeking Alpha contributor Nathan Aisenstadt considers Bristol (BMY) a "gem."

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