Prosetta Antiviral Inc today announced the execution of a strategic
alliance with Bristol-Myers Squibb Company (NYSE: BMY) to further
discover and develop select drug candidates representing new, novel
classes of antiviral drugs.
Prosetta currently has a portfolio comprising novel chemical classes of
small molecules with robust antiviral activity which target catalytic
host protein interactions essential for the virus, but not the host.
These molecules represent a new therapeutic approach for antiviral
agents.
The collaboration will include a research program focused on the
discovery and advancement of compounds shown to block viral capsid
assembly using Prosetta's proprietary drug discovery platform.
Bristol-Myers Squibb will have the right to develop and commercialize
products arising from the research program.
Prosetta will receive an upfront payment and multi-year research
funding. Prosetta is eligible to receive milestone payments and
royalties based on worldwide sales of the drugs emerging from the
collaboration.
Vishwanath R. Lingappa, MD, PhD, Prosetta's Chief Technology Officer and
Co-CEO, stated, "We greatly value this opportunity to collaborate with
Bristol-Myers Squibb scientists in a joint program dedicated to a
completely new approach to protecting human health against viral
infections."
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