Bristol-Myers Squibb Co (NYSE:BMY) has landed a multimillion dollar deal with uniqure. The contract is for Bristol-Myers Squibbto acquire gene therapy’s renaissance.
The contract will mainly allow Bristol to access a new treatment for cardio vascular diseases. According to the agreement, Bristol will first receive about $100million. This will cater forequity investment, as a facilitator for the exchange o of commercial rights. The amount will also be part of an upfront payment plan for the resources also being required to be paid as licensing fees.
UniQure’s headquarters located in Holland’s expected to receive over $254 million which is tied to prospect S100A1. This is inclusive of $217 for three additional projects.
Germany’s InoCard had been selected as UniQure’s lead candidate about a year ago. The gene therapy incorporates the use of a harmless virus that induces S100A1, which is in this case, the calcium-binding protein. The protein is a master regulator of heart function.
A boost of the protein will allow for a better combat against the repression of congestive heart failure symptoms. Through the acquisition, future collaborations will allow uniQure’s in-house gene therapy platform. The platform uses Adeno associated viruses in order to push the corrective genes towards their objectives.
Currently, major gene therapy focuses on uncommon genetic diseases such as the infamous lipoprotein lipase deficiency. JoernAldag who is the CEO of UniQure said that the protein S100A1 has a record as one of the most successful among patients but the success is only the beginning. They could learn much more from it.
Bristol’s great knowledge in the cardiovascular field will give the company leverage for more capacity and knowledge of cardiovascular illnesses. Alder also said that the collaboration between the two creates possibilities for greater future discoveries. It will probably create multiple applications for gene therapy.
Positive growth of both firms is expected. Both as a firm and also in terms of research.The resources will be instrumental in the research level.