BMS, Ono partner for prostaglandin receptor antagonist

Ono Pharmaceutical Co. Ltd. (Tokyo:4528) granted Bristol-Myers Squibb Co. (NYSE:BMY) exclusive rights to develop and commercialize ONO-4578 worldwide except in Japan, South Korea, Taiwan, China and Association of Southeast Asian Nations (ASEAN) countries.

Ono will receive an upfront payment of $40 million and is eligible for undisclosed clinical, regulatory and sales-based milestone payments, plus royalties...