NEW YORK – Bristol Myers Squibb has obtained exclusive worldwide commercial rights to the Alzheimer's disease anti-tau antibody PRX005 from developer Prothena for $55 million, the companies said earlier this week.
BMS and Dublin-based Prothena several years ago inked a global neuroscience R&D collaboration worth $2.2 billion focused on three proteins, including tau, TDP-43, and an undisclosed target, involved in the pathogenesis of neurodegenerative diseases. Two years ago, BMS exercised an option within this collaboration and bought up the exclusive US commercial rights to PRX005 for $80 million. Now, in acquiring the global rights to PRX005, BMS will be responsible for all development, manufacturing, and commercialization activities for the anti-tau agent.
PRX005 targets the microtubule binding region (MTBR) of tau, a protein that accumulates in the brains of Alzheimer's patients and has been linked with neurodegeneration and cognitive decline. "PRX005, identified and developed by Prothena through our partnership, has the potential to provide a meaningful disease-modifying treatment option for the millions of people that suffer from Alzheimer’s disease," Richard Hargreaves, senior VP and head of BMS's Neuroscience Thematic Research Center, said in a statement.
Investigators will study the drug in patients with Alzheimer's who have evidence of tau pathology, a BMS spokesperson said in an email.
In a Phase I trial, researchers are studying multiple ascending doses of PRX005. Prothena earlier this year released top-line data from the single ascending dose portion of the trial, demonstrating that the drug was safe and well tolerated in patients. BMS will provide future program updates.
As part of Prothena and BMS's overall R&D collaboration agreement, Prothena can receive an additional $160 million if BMS exercises options to acquire US rights to other targets, up to $110 million for global rights, and up to $1.7 billion in regulatory and commercial milestone payments.