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BMS hopes Summit's carbohydrate tech can generate stable, target-specific drugs
BMS's high carb diet
Monday, September 17, 2012
Squibb Co. is placing a small wager that Seglin carbohydrate technology
Corp. plc can deliver the stability and specificity that earlier
generations of carbohydrate-based drugs could not. For Summit, a recent shift
in strategy to focus on its two lead programs means the deal with Bristol-Myers
is pure upside.
On Sept. 11, Summit granted
Bristol-Myers an exclusive license to use Seglin to discover and develop drug
candidates against 10 undisclosed targets. The biotech will receive a $100,000
access fee and is eligible for up to $30 million in milestones per product,
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