PRTA tech validated by big BMS collaboration
• BMS is part owner of PRTA
BMS & PRTA collaboration highlights:
3/20/18 CELG & PRTA enter master Collaboration agreement (CELG acquired by BMS - 2019)
• BMS may elect PRTA Abs against 3 targets
⇒ Tau, TDP-43, & undisclosed
⇒ $100M up-front
⇒ $50M for ~1.2M shares of PRTA
⇒ PRTA eligible for total of $2.2B fees & milestone
6/24/21 BMS $80M to PRTA for exclusive US rights to PRX005
7/5/23 BMS $55M to PRTA for exclusive WW rights to PRX005
⇒ BMS responsible for PRX005 going forward
⇒ Posible milestones now $562.5M
⇒ Reasonable royalty
PRX005 anti-tau Ab
• Binds microtubule binding region (MTBR)
⇒ R1, R2, and R3 repeats
⇒ tau 3R and 4R isoforms
⇒ Ph1 results @ #AAIC23 (healthy volunteers)
BMS to give PRX005 updates going forward
Article History:
Originally posted 7/17/23 (RB)
This is not investment, legal or tax advice. Do your own diligence and seek the advice of professionals.
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