ASLAN
Pharmaceuticals Pte Ltd, a pharmaceutical company headquartered in Singapore,
and Bristol-Myers Squibb Company BMY -0.45%
today announced an innovative strategic partnership allowing for the
rapid development of BMS-777607, Bristol-Myers Squibb's investigational small
molecule inhibitor of the MET receptor tyrosine kinase for treatment of solid
tumors.
This creative approach will accelerate the
delivery of clinical proof-of-concept by leveraging the complementary strengths
of an Asia-based drug development company and a global biopharmaceutical
company.
Under the terms of the agreement, ASLAN will
receive exclusive rights to develop and commercialize BMS-777607 in China,
Australia, Korea, Taiwan and other selected Asian countries while Bristol-Myers
Squibb retains exclusive rights in the rest of the world. ASLAN will run and
fund development of BMS-777607 under a pre-agreed development program that will
initially target gastric cancer and lung cancer. Financial terms were not
disclosed.
"This ground-breaking partnership
demonstrates how a leading Asian drug development company can work together
with a global biopharmaceutical company to accelerate drug development and
conduct early clinical studies in Asia in areas of significant unmet
need," said Dr. Carl Firth, CEO of ASLAN.
"As part of our biopharma strategy,
Bristol-Myers Squibb seeks to seed companies in key markets with promising
investigational medicines of continued interest to Bristol-Myers Squibb,"
said Francis Cuss, senior vice president, Research, Bristol-Myers Squibb.
"Dubbed our Oyster strategy, under this type of agreement partners like
ASLAN run and fund early development, working closely with Bristol-Myers
Squibb, to produce high-quality data that may be used to further develop and
commercialize the medicine worldwide. We are pleased to be working with ASLAN
to quickly further our understanding of this oncology compound for use in
treating solid tumors."
About ASLAN
ASLAN Pharmaceuticals is an Asia-enabled
pharmaceutical company that develops novel medicines for global markets,
headquartered in Singapore. ASLAN licenses preclinical and early clinical
compounds from global pharmaceutical companies, focusing on oncology,
respiratory and inflammation diseases, and uses the high quality and efficient
development resources available across Asia to progress the drugs through
clinical development. For more information, please visit www.aslanpharma.com .
About Bristol-Myers Squibb
Bristol-Myers Squibb is a global
biopharmaceutical company whose mission is to discover, develop and deliver
innovative medicines that help patients prevail over serious diseases. For more
information, please visit www.bms.com or follow us on Twitter at
http://twitter.com/bmsnews .
Bristol-Myers Squibb Forward Looking Statement
This press release contains
"forward-looking statements" as that term is defined in the Private
Securities Litigation Reform Act of 1995, regarding the research, development
and commercialization of pharmaceutical products. Such forward-looking
statements are based on current expectations and involve inherent risks and
uncertainties, including factors that could delay, divert or change any of
them, and could cause actual outcomes and results to differ materially from
current expectations. No forward-looking statement can be guaranteed. Among
other risks, there can be no guarantee that the compound described in this
release will move from early stage development into full product development,
that clinical trials of this compound will support a regulatory filing, or that
the compound will receive regulatory approval or become a commercially
successful product. Nor is there any guarantee that the transaction described
in this release will receive the necessary regulatory approvals to close.
Forward-looking statements in the press release should be evaluated together
with the many uncertainties that affect Bristol-Myers Squibb's business,
particularly those identified in the cautionary factors discussion in
Bristol-Myers Squibb's Annual Report on Form 10-K for the year ended December
31, 2010, its Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K.
Bristol-Myers Squibb undertakes no obligation to publicly update any
forward-looking statement, whether as a result of new information, future
events, or otherwise.
SOURCE: Bristol-Myers Squibb Company
Business & Investment Opportunities
YourVietnamExpert is a division of Saigon Business Corporation Pte Ltd, Incorporated in Singapore since 1994. As Your Business Companion, we propose a range of services in Consulting, Investment and Management, focusing three main economic sectors: International PR; Healthcare & Wellness;and Tourism & Hospitality. We also propose Higher Education, as a bridge between educational structures and industries, by supporting international programs. Sign up with twitter to get news updates with @SaigonBusinessC. Thanks.
No comments:
Post a Comment