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Bristol-Myers Squibb Company

Drug Names(s): MDX-010, anti-CTLA-4, BMS-734016, ipilimumab

Description: MDX-010 is a fully human antibody that targets an immune receptor known as CTLA-4. This receptor, which is a protein found on the surface of T-cells, normally functions to suppress the immune response to tumors or infectious agents.

Deal Structure: Bristol-Myers Squibb and Medarex
Bristol-Myers Squibb Company and Medarex announced on 1/13/05 that the global development and commercialization collaboration agreement, previously announced by both companies on 11/8/04, had become effective.

Under the collaboration agreement, Bristol-Myers Squibb and Medarex plan to jointly develop MDX-010, a fully human antibody investigational product targeting the CTLA-4 receptor.

Medarex will receive an initial cash payment of $50 million, of which $25 million will be for a purchase of Medarex's common stock by Bristol-Myers Squibb. In addition, Medarex could receive up to $205 million if all regulatory milestones are met, and up to $275 million in sales- related milestones. Medarex has an option to co-promote and share profits with Bristol-Myers Squibb in the United States. Bristol-Myers Squibb will receive an exclusive license outside of the United States and will pay royalties to Medarex on any commercial sales.

In July...See full deal structure in Biomedtracker

Partners: Ono Pharmaceutical Company, Ltd.

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