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Athersys Expands Bristol-Myers Squibb Deal

Aug 05, 2002

NEW YORK, Aug. 5-Athersys said today that it is expanding its partnership with Bristol-Myers Squibb to provide additional validated drug targets for the next three years.

 

Under a partnership that began in January 2001, Athersys agreedto use its proprietary human cell line technology to provide the pharmaceutical company with six validated drug targets. In exchange, Athersys receives licensing fees, milestone payments on potential drugs, and royalties on products.

 

At the time, the partners anticipated expanding the agreement to include up to 50 drug targets.

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