Bristol-Myers spins out Amira assets
Bristol-Myers Squibb Co. (NYSE:BMY) created two newcos with assets from recently acquired inflammation company Amira Pharmaceuticals Inc. The first, Panmira Pharmaceuticals LLC (San Diego, Calif.), received Amira's prostaglandin D2 (PGD2) receptor ( CRTH2; GPR44) subtype DP2 inhibitor assets, two of which ( AM211 and AM461) have completed Phase I testing for asthma and chronic obstructive pulmonary disease (COPD).
The pharma also spun out FLAP LLC, a non-operating company that will collect milestones and royalties from Amira-partner GlaxoSmithKline plc (LSE:GSK; NYSE:GSK). In 2008, GSK in-licensed Amira's 5-lipoxegenaxe activating protein (FLAP; ALOX5AP) inhibitors, including GSK2190915 ( AM803), which is in Phase II testing for asthma. ...