Santaris Pharma A/S, a privately held biopharmaceutical company, announced a worldwide strategic alliance with Bristol-Myers Squibb Co. (BMY) to discover and develop novel medicines using Santaris Pharma's proprietary Locked Nucleic Acid or LNA Drug Platform.
As per the terms of the deal, Santaris Pharma will receive an upfront payment of $10 million, up to $90 million in potential milestone payments per product and funding of ongoing discovery and research activities. In addition, Santaris Pharma will be eligible to receive royalties on the worldwide sales of all medicines arising from the alliance.
The LNA Drug Platform and Drug Discovery Engine developed by Santaris Pharma A/S combines the company's proprietary LNA chemistry with its highly specialized and targeted drug development capabilities to rapidly deliver LNA-based drug candidates against RNA targets, both mRNA and microRNA, for a range of diseases including infectious and inflammatory diseases, cardiometabolic disorders, cancer and rare genetic disorders.
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