Bristol-Myers Squibb and the California Institute for Biomedical Research (Calibr) have formed a worldwide research collaboration to develop novel small molecule anti-fibrotic therapies and an exclusive license agreement that allows Bristol-Myers Squibb to develop, manufacture, and commercialize Calibr's preclinical compounds resulting from the collaboration. Calibr is an independent, not-for-profit organization established in 2012 with the goal of accelerating the translation of basic biomedical research to new therapies that address unmet medical needs. Calibr's research interests span a large range of human diseases, including cancer, autoimmunity and inflammatory diseases, metabolic and cardiovascular diseases, infectious and neglected diseases as well as age-related and degenerative diseases.

Identifying novel medicines to halt or slow the progression of fibrotic disease and improve upon the current standard of care is a key part of Bristol-Myers Squibb's R&D strategy. Among the assets in Bristol-Myers Squibb's fibrosis portfolio are BMS-986020, a lysophosphatidic acid 1 (LPA1) receptor antagonist in Phase II development for the treatment of idiopathic pulmonary fibrosis (IPF), and a CCR2/5 dual antagonist in Phase II development for diabetic kidney disease. In November, 2014, Bristol-Myers Squibb and Galecto Biotech AB announced, together with the Galecto shareholders, an agreement that provides Bristol-Myers Squibb the exclusive option to acquire Galecto Biotech AB and gain worldwide rights to its lead asset TD139, a novel inhaled inhibitor of galectin-3 in Phase 1 development for the treatment of IPF and other pulmonary fibrotic conditions.

Bristol-Myers Squibb and Calibr anticipate that the transaction will close during the first quarter of 2015. Closing of the transaction is subject to customary closing conditions, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act. Financial terms of the agreement were not disclosed.

Source: Bristol-Myers Squibb