Bristol-Myers out-licenses DMD drug

US pharma major Bristol-Myers Squibb (NYSE: BMY) has out-licensed BMS-986089, an anti-myostatin adnectin in development for Duchenne muscular dystrophy (DMD), to Swiss drugs giant Roche (ROG: SIX).

It also signed an agreement to license BMS-986168, an anti-eTau compound in development for progressive supranuclear palsy (PSP), to Biogen  (see separate story).

Under the agreement to license BMS-986089, Roche will pay to Bristol-Myers Squibb an upfront payment of $170 million with potential milestone payments of up to $205 million. Bristol-Myers Squibb will receive tiered double-digit royalties if the asset is approved and commercialized. The deal includes potential milestone payments of up to $205 million.