Bristol Myers Squibb Enters $2.3 Billion Collaboration to Advance Antibody-Oligonucleotide Conjugate Therapies in Cardiovascular Disease

▎WuXi

Edited by Kant Content Team

Avidity Biosciences, Inc. today announced a collaboration with Bristol-Myers Squibb CompanyReached a potential global licensing and research collaboration totaling approximately $2.3 billion, jointly focusing on the discovery, development, and commercialization of multiple cardiovascular targets.This strategic cooperation aims to expandAvidityThe existing relationship with Bristol-Myers Squibb will broaden the companyAntibody Oligonucleotide Conjugates (AOC) TherapyThe scope of application. Avidity Biosciences, Inc. will continue to advance its internal R&D programs for rare cardiac indications.

Avidity Biosciences focuses on the development of AOC therapies,This class of therapies aims to combine the specificity of monoclonal antibodies with the precision of oligonucleotide therapies to address targets and diseases that previous RNA therapies could not reach, having the potential to transform the field of RNA treatment.Through its proprietary AOC platform,AvidityFirst Success

Avidity Biosciences, Inc. is targeting the delivery of RNA to muscles. The company is currently focused on clinical development programs for three rare muscle diseases, including Myotonic Dystrophy Type 1 (DM1), Duchenne Muscular Dystrophy (DMD), and Facioscapulohumeral Muscular Dystrophy (FSHD).

According to the terms of the agreement,Avidity will receive an upfront payment of $100 million. Avidity is also eligible to receive up to approximately $1.35 billion in development milestones, as well as up to about $825 million in commercial milestone payments.Bristol-Myers Squibb will be responsible for all future clinical development, regulatory, and commercialization activities required for this collaboration.

Image Source: 123RF

Avidity's collaboration with Bristol-Myers Squibb is independent of its internal discovery pipeline. Avidity is currently advancing three distinct rare disease Phase 1/2 programs in the clinic: AOC 1001 for the treatment of Myotonic Dystrophy Type 1, AOC 1020 for Facioscapulohumeral Muscular Dystrophy, and AOC 1044 for Duchenne Muscular Dystrophy mutations amenable to exon 44 skipping (DMD44).

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