On heels of Aduhelm approval, Bristol Myers jumps back into Alzheimer's race
Bristol Myers Squibb last put major resources behind an Alzheimer’s drug nearly a decade ago, when their own attempt at targeting amyloid flamed out in mid-stage studies. They invented another molecule, a tau-targeted antibody, but jettisoned it to Biogen in 2017 as they dropped out of neuroscience altogether.
But on Thursday, the New York pharma announced they were getting back in the game. Bristol Myers exercised an $80 million option to bring a tau-targeted antibody from Prothena into a Phase I study. The opt-in, which Bristol Myers triggered ahead of analyst expectations, opens the door for another $1.7 billion in milestones down the road.
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