Bristol Myers takes up option on Prothena’s PRX019

29 May 2024

Dublin, Ireland-headquartered protein specialist Prothena (Nasdaq: PRTA) announced that US pharma major Bristol Myers Squibb (NYSE: BMY) has obtained the exclusive global license for PRX019.

BMS will pay $80 million upfront to Prothena, which will also be eligible to receive development, regulatory, and sales milestone payments of up to $617.5 million. Additionally, Prothena will be eligible for tiered royalties on net sales.

The US Food and Drug Administration (FDA) cleared the investigational new drug (IND) application for PRX019, a potential treatment of neurodegenerative diseases with an undisclosed target, in December 2023. Prothena plans to initiate the Phase I clinical trial for PRX019 by year-end 2024.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK