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DewDiligence

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DewDiligence

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Re: DewDiligence post# 1018

Monday, 07/10/2023 4:59:40 PM

Monday, July 10, 2023 4:59:40 PM

Post# of 1162
BMY opts-in for worldwide rights_to PRTA’s anti-tau compound, PRX005:

https://www.businesswire.com/news/home/20230710599297/en

PRTA reported phase-1 data for PRX005 in Alzheimer’s disease in Jan 2023 (#msg-171085895).

BMY opted in for the US rights to PRX005 in 2021 (#msg-164573926), which resulted in an $80M milestone payment to PRTA. Today’s opt-in for the ex-US rights generates an additional $55M payment to PRTA.

This collaboration, which BMY inherited from CELG (#msg-139431013), potentially includes two drug candidates in addition to PRX005 (one targeting TDP-43 and one with an undisclosed target), but BMY has as yet opted in only for PRX005 and has shown no interest in the other two candidates, as far as I know.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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