Biopharmaceutical company Avidity Biosciences, Inc. (RNA) announced Tuesday a global licensing and research collaboration with Bristol Myers Squibb (BMY) focused on the discovery, development and commercialization of multiple cardiovascular targets with potential cumulative payments of up to $2.3 billion.
Avidity will receive $100 million up front with the potential to receive up to $2.2 billion in milestone payments and up to low double-digit royalties. Bristol Myers Squibb will fund all future clinical development, regulatory and commercialization activities coming from this collaboration
The collaboration is designed to combine the specificity of monoclonal antibodies with the precision of oligonucleotide therapies to target the root cause of diseases previously untreatable with RNA therapeutics. This strategic collaboration broadens the existing relationship with Bristol Myers Squibb.
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April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.