Biotech Values

[DewDiligence]

BMY inks CETP drug-development deal with Simcere Pharmaceuticals of Nanjing, China:

http://finance.yahoo.com/news/Simcere-Bristol-Myers-Squibb-prnews-245445739.html?x=0

The companies agreed to co-develop BMS-795311, Bristol-Myers Squibb's preclinical small molecule inhibitor of the Cholesteryl Ester Transfer Protein (CETP). Inhibiting CETP could potentially raise HDL (good cholesterol) levels and help prevent cardiovascular disease. This collaboration is expected to accelerate the delivery of clinical Phase IIa proof-of-concept by leveraging the complementary strengths of a premier Chinese pharmaceutical company and a global biopharmaceutical company.

Under the terms of the agreement, Simcere will receive exclusive rights to develop and commercialize BMS-795311 in China while Bristol-Myers Squibb will retain exclusive rights in all other markets. The companies will together determine the strategic development plan to explore the potential of BMS-795311 to treat and prevent progression of cardiovascular disease. Simcere will run and fund initial development work. Financial terms were not disclosed.

BMS-795311 belongs to the same drug class as Roche’s Dalcetrapib, MRK’s Anacetrapib, LLY’s Evacetrapib, RDY’s DRL-17822, and PFE’s defunct Torecetrapib.