Bristol-Myers buys a-fib drug from Tokyo firms for $40M

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Bristol-Myers Squibb (BMS) has signed an agreement with Nissan Chemical Industries and Teijin Pharma Limited for the development and commercialization of a selective inhibitor for the maintenance of normal sinus rhythm in patients with atrial fibrillation, NTC-801, currently in phase I development in Japan.

Under the terms of the agreement, Nissan and Teijin, both of Tokyo, will grant BMS exclusive rights for the development and commercialization of NTC-801, and certain backup compounds, worldwide, excluding Japan. An upfront cash payment of $40 million, potential development-based milestone payments of up to $170 million, sales-based milestones of up to $175 million and royalties on net sales for licensed products are payable by BMS.

Previously, Nissan previously granted Teijin exclusive rights to NTC-801 in Japan.

NTC-801 is an oral inhibitor of the acetylcholine-activated potassium ion channel in phase I development in Japan for the treatment of atrial fibrillation/flutter, according to the Princeton, N.J.-based BMS.