Dec. 12, 2011
On December 13, 2011, Bristol-Myers Squibb and the Simcere Pharmaceutical Group announced that they had expanded the strategic partnership formed last year to include a second collaboration in a different therapeutic area. The companies agreed to co-develop BMS-795311, Bristol-Myers Squibb’s preclinical small molecule inhibitor of the Cholesteryl Ester Transfer Protein (CETP). This collaboration is expected to accelerate the delivery of clinical Phase IIa proof-of-concept by leveraging the complementary strengths of a leading Chinese pharmaceutical company and a global biopharmaceutical firm.
Under the terms of the agreement, Simcere will receive exclusive rights to develop and commercialize BMS-795311 in China, while Bristol-Myers Squibb will retain exclusive rights in all other markets. Simcere will run and fund initial development work. Financial terms were not disclosed.