Prosetta, BMS form multi-year antiviral drug development collaboration
Wednesday, August 1, 2012
Prosetta Antiviral, a San Francisco-based biotechnology company, has formed a strategic alliance with global biopharmaceutical company Bristol-Myers Squibb (BMS) to further discover and develop select drug candidates representing new, novel classes of antiviral drugs.
Currently, Prosetta has a portfolio comprising novel chemical classes of small molecules with antiviral activity which target catalytic host protein interactions essential for the virus, but not the host. These molecules represent a new therapeutic approach for antiviral agents.
The collaboration will include a research program focused on the discovery and advancement of compounds shown to block viral capsid assembly using Prosetta’s proprietary drug discovery platform. BMS will have the right to develop and commercialize products arising from the research program.
Prosetta will receive an upfront payment and multi-year research funding. The company is also eligible to receive milestone payments and royalties based on worldwide sales of the drugs emerging from the collaboration.