Procept regulatory update

PRCT said its five-year research agreement with Bristol-Myers Squibb to develop T cell antigen receptors (TCRs) for autoimmune diseases will end as scheduled in February 1995.

The program began as an early-stage discovery program to define characteristics of TCRs and develop a foundation for drug discovery targeted at autoimmune disorders. In the last two years, the companies focused on Type II diabetes. PRCT speculated that Bristol-Myers did not renew the agreement because of the pharma company’s downsizing. ...