Cadus enters adulthood with first big deal

Cadus Pharmaceutical Corp. and Bristol-Myers Squibb have created a collaboration to discover and develop novel pharmaceuticals using Cadus' yeast-based screening technology. Under the agreement, which isn't focused on any single therapeutic area, Cadus could receive up to $45 million in research funding and equity investments.

The agreement is Cadus' first major partnership. The company has a small collaboration under which Lederle provides compounds and Cadus screens them. That deal doesn't involve any cash...