Bristol-Myers Squibb has acquired iPierian, a privately held biopharma company, for $175 million, with the potential for additional development and regulatory milestones totaling $550 million, as well as future royalties on sales.
iPierian focuses on developing treatments for Tauopathies, a class of neurodegenerative diseases associated with the Tau protein in the human brain. With the acquisition, BMS gains full rights to iPierian’s lead asset IPN007, a monoclonal antibody with a promising new approach to treat progressive supranuclear palsy (PSP) and other Tauopathies, scheduled to enter Phase I trials by early 2015.
“As part of our evolution to a diversified specialty BioPharma company, we have identified genetically defined diseases as an area where the company has an opportunity to significantly advance the standard of care for patients with limited treatment options,” said Francis Cuss, executive vice president and chief scientific officer, Bristol-Myers Squibb. “The acquisition of iPierian supports our growing efforts in this area and builds on Bristol-Myers Squibb’s internal expertise and alliances focused on the Tau pathway and neurodegenerative diseases.”
“iPierian’s discovery of a novel mechanism of secreted Tau biology was the basis of the IPN007 program,” said Dr. Nancy Stagliano, chief executive officer of iPierian. “The acquisition reinforces the importance of this finding and we are gratified that IPN007 is strongly positioned now to potentially offer a new therapeutic option to progressive supranuclear palsy patients.”