Bristol-Myers expands immuno-oncology alliance

US pharma major Bristol-Myers Squibb (NYSE: BMY) has entered into an exclusive license for the development and commercialization of ONO-4578, Ono’s selective prostaglandin E2 (PGE2) receptor 4 (EP4) antagonist, from Japan’s Ono Pharmaceutical (TYO: 4528).

The companies will also collaborate on discovery efforts to identify additional compounds from Ono’s PGE2 receptor antagonist programs.

Under the terms of the agreement, Bristol-Myers will make an upfront payment of $40 million to Ono. The US firm will be solely responsible for the development, manufacturing and commercialization of ONO-4578 as well as other PGE2 receptor antagonist products in all countries of the world except Japan, South Korea, Taiwan, China and Association of Southeast Asian Nations (ASEAN) countries.