Atrium Therapeutics receives $15M milestone from Bristol Myers Squibb

Atrium Therapeutics, Inc. (Nasdaq: RNA) has earned a $15 million milestone payment from Bristol Myers Squibb (NYSE: BMY) following the successful delivery of a lead compound targeting an undisclosed cardiology indication under an existing global collaboration, according to a press release.

The payment is part of a broader licensing and research collaboration between the two companies focused on the discovery, development, and commercialization of RNA-based therapies for multiple cardiovascular indications.

Under the terms of the agreement, Atrium is eligible to receive up to approximately $1.35 billion in research and development milestone payments and up to approximately $825 million in commercial milestone payments. The company is also eligible for tiered royalties of up to low double-digits on net sales. Bristol Myers Squibb is responsible for funding all future clinical development, regulatory, and commercialization activities under the collaboration.

Kathleen Gallagher, President and CEO of Atrium Therapeutics, said: "Advancing a second lead compound under our collaboration with Bristol Myers Squibb reflects the strength and versatility of our RNA delivery platform, and it gives us continued momentum as we work together to bring novel therapies to patients and families facing significant unmet need."

Atrium Therapeutics focuses on RNA therapeutics targeting the heart, with its pipeline including ATR 1072 for PRKAG2 syndrome and ATR 1086 for PLN cardiomyopathy, along with two undisclosed research targets in rare cardiomyopathies.

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