05.25.11
AMRI will receive a $3 million milestone payment from Bristol-Myers Squibb resulting from a recently initiated Phase II clinical trial of an AMRI compound exclusively licensed to BMS.
This is the sixth milestone payment originating from a 2005 agreement in which AMRI licensed to BMS its technology around CNS triple reuptake transporter inhibitors as potential improved treatments for depression and CNS diseases. This payment brings the total milestone and licensing fees earned by AMRI related to the license agreement to $22.75 million. AMRI has also received $10 million in research collaboration fees under the agreement. In addition to the compound entering Phase II clinical evaluation, BMS is continuing to evaluate other collaboration compounds for depression and other indications.
AMRI is eligible to receive as much as $66 million in development and regulatory milestone payments per compound for the first two compounds and payments of as much as $22 million per compound on subsequent compounds. AMRI also will receive royalties on worldwide sales of any commercialized compounds.
This is the sixth milestone payment originating from a 2005 agreement in which AMRI licensed to BMS its technology around CNS triple reuptake transporter inhibitors as potential improved treatments for depression and CNS diseases. This payment brings the total milestone and licensing fees earned by AMRI related to the license agreement to $22.75 million. AMRI has also received $10 million in research collaboration fees under the agreement. In addition to the compound entering Phase II clinical evaluation, BMS is continuing to evaluate other collaboration compounds for depression and other indications.
AMRI is eligible to receive as much as $66 million in development and regulatory milestone payments per compound for the first two compounds and payments of as much as $22 million per compound on subsequent compounds. AMRI also will receive royalties on worldwide sales of any commercialized compounds.