Bris­tol My­ers re­in­forces neu­ro­science deals; Io­vance prices $150M pub­lic of­fer­ing

Bris­tol My­ers Squibb, a big phar­ma hard­ly syn­ony­mous with neu­ro­science drugs, is beef­ing up its work with two Eu­ro­pean biotechs in Alzheimer’s and undis­closed neu­rode­gen­er­a­tive con­di­tions.

The drug­mak­er is pay­ing $55 mil­lion in ex­change for the ex­clu­sive glob­al li­cense to Prothena’s clin­i­cal-stage an­ti-tau an­ti­body PRX005. Bris­tol My­ers bought the US rights to the po­ten­tial Alzheimer’s drug for $80 mil­lion 25 months ago.

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