BMS acquires iPierian, reports 1Q14 earnings
Bristol-Myers Squibb Co. (NYSE:BMY) reported mixed 1Q14 financial results on Tuesday and separately said it acquired neurology play iPierian Inc. (South San Francisco, Calif.) for $175 million in cash up front and up to $550 million in milestones, plus royalties. iPierian's IPN007 is a preclinical humanized mAb targeting microtubule-associated protein tau (MAPT; tau; FTDP-17). The compound is in development for tauopathies, with an initial focus on progressive supranuclear palsy (PSP), a rare, fatal degenerative brain disease. BMS said IPN007 "has the potential" to start Phase I testing early next year.
In its 1Q14 earnings, BMS said that in "the coming days" it plans to start a rolling BLA for nivolumab ( BMS-936558) for third-line treatment of squamous non-small cell lung cancer (NSCLC). The pharma expects to complete the application for the human IgG4 mAb against PD-1 receptor ( PDCD1; PD-1; CD279) by year end. BMS has worldwide rights, excluding Japan, Korea and Taiwan, to nivolumab from Ono Pharmaceutical Co. Ltd. (Tokyo:4528). ...