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Schrödinger (SDGR) Announces a Multi-Target Drug Discovery, Development, and Commercialization Collaboration with Bristol Myers Squibb (BMY)
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Terms of the Collaboration
Under the terms of the agreement, Bristol Myers Squibb will pay Schrödinger $55 million upfront, and Schrödinger will also be eligible to receive up to $2.7 billion in preclinical, development, regulatory and sales-based milestone payments. Additionally, Schrödinger is entitled to receive royalties on net sales of each product commercialized by Bristol Myers Squibb.
Schrödinger has agreed to grant Bristol Myers Squibb exclusive worldwide rights to develop and commercialize the development candidates generated by the collaboration.
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Strategic Initiative Date
Announcement Date: Nov 23, 2020 Projected Implementation: Q4, 2020 Relevance Tracked Until: Q1, 2021
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Related Keywords Drug Discovery, Oncology, Immunology, Neurological Disorders