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Bristol-Myers enters into two license deals with Biogen and Roche worth up to US$1.1bn

Bristol is licensing an experimental neurodegenerative disorder drug to Biogen and a Duchenne muscular dystrophy treatment to Roche
Bristol will receive US$470mln upfront, plus a possible US$615mln in future milestone payments

Shares in Bristol-Myers Squibb Co (NYSE:BMY) edged higher in pre-market trading on Thursday after the pharma giant told investors it had entered into separate licence deals with Biogen Inc (NYSE:BIIB) and Roche.

In total, Bristol-Myers will receive a combined upfront fee of US$470mln plus up to a further US$615mln in potential milestone payments.

Bristol will license its experimental neurodegenerative disorder drug, BMS-986168, to Biogen for use in progressive supranuclear palsy, which can cause serious problems with walking, balance and eye movements.

Biogen will pay US$300mln upfront plus up to US$410mln in milestone payments.

In a separate deal, NYSE-listed Bristol will also licence its anti-myostatin adnectin for use in the treatment of Duchenne muscular dystrophy to Roche for US$170mln upfront plus up to US$205mln in milestone payments.

The agreements are still subject to regulatory approval but, assuming they get the green light, they’re expected to close later this quarter.

Shares in Bristol-Myers were up more than 1% to US$53.57 in the pre-market.

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