Nov. 2, 2010
On November 3, 2010, Bristol Myers Squibb and the Simcere Pharmaceutical Group announced an innovative strategic partnership to co-develop BMS-817378, a preclinical small molecule MET/VEGFR-2 inhibitor. This unique arrangement represents a creative approach to accelerate drug development up to clinical proof-of-concept by leveraging the complementary strengths of a premier Chinese pharmaceutical company and an international firm.
Under the terms of the agreement, Simcere receives exclusive rights to develop and commercialize BMS-817378 in China while Bristol-Myers Squibb retains exclusive rights in all other markets. The parties will together determine the strategic development plan, which will initially be performed by Simcere. Financial terms were not disclosed.