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BMS, Merck KGaA Partner with Amphista Therapeutics to Develop Targeted Protein Degraders

This article has been corrected to reflect that Amphista is partnering with Merck KGaA.

NEW YORK – Amphista Therapeutics announced two separate collaborations on Wednesday to develop targeted protein degradation therapies with Bristol Myers Squibb and Merck KGaA.

According to a spokesperson for Amphista, the firm will study the drugs developed through these collaborations in biomarker-defined indications in cancer and other disease settings.

BMS will pay $30 million upfront under the agreement, and Amphista will be eligible for up to $1.25 billion in performance-based milestone payments, additional payments if the firms expand their collaboration, and royalties on global net sales of any commercialized products.

The two companies will develop small molecular protein degraders using Amphista's development platform, called Eclipsys. BMS will have a global exclusive license to any developed protein degraders and take over further development and commercialization activities of the programs.

Under the agreement with Merck KGaA, Amphista will receive €39 million ($44 million) in a combined upfront and R&D funding payment. The company will also be eligible for up to €893.5 million ($1.0 billion) in milestone payments, along with mid-single digit royalties on potential sales.

Cambridge, UK-based Amphista will use its Eclipsys platform to develop three next-generation targeted protein degradation programs for Merck KGaA to treat cancers and immuno-inflammatory diseases.

Amphista aims to develop protein degraders that could overcome resistance to first-generation targeted protein degradation therapies and expand the use of these drugs in different tumor types and in patients with brain metastases.