Tranzyme Pharma has successfully completed its chemistry-based drug discovery collaboration with Bristol-Myers Squibb and has transferred compounds, across multiple drug targets, to BMS for further development. Tranzyme has the option to pursue select collaboration targets for internal development.
The collaboration, established in December 2009, utilized Tranzyme's chemistry technology, Macrocyclic Template Chemistry (MATCH), for the discovery of novel active macrocycles against a range of biological targets with high potency and selectivity, as well as high oral availability, good tissue and cell permeability. Total milestone payments, excluding royalties and sales milestones, have the potential value of approximately $80 million for each target program.
"We have enjoyed an exceptionally close and productive relationship with BMS and are excited to be transitioning now the fruits of our discovery collaboration to our partner for further development," said Helmut Thomas, Ph.D., Tranzyme's senior vice president of Research and Preclinical Development. "This milestone serves to further validate our technology's broad application to a diverse range of difficult drug targets and its value in the discovery of drugs for the treatment of diseases far beyond our own internal focus on gastrointestinal and metabolic disorders."