BMS acquires Amira for $325 million
Monday, July 25, 2011
Bristol-Myers Squibb will acquire privately-held Amira Pharmaceuticals, a small-molecule pharmaceutical company focused on the discovery and early development of new drugs to treat inflammatory and fibrotic diseases.
BMs will acquire all of Amira’s issued and outstanding shares of capital stock and stock equivalents in an all-cash transaction for $325 million upfront and potential additional milestone payments totaling $150 million. BMS will secure Amira’s fibrosis program, including lead asset AM152, an orally available lysophosphatidic acid 1 (LPA1) receptor antagonist that has completed phase I clinical studies and is poised for phase IIa proof-of-confidence studies for the treatment of idiopathic pulmonary fibrosis (IPF) and systemic sclerosis (SSc), or scleroderma.
BMs will also obtain Amira’s pre-clinical autotaxin program, which may be useful in the treatment of neuropathic pain and cancer metastases. BMS plans to retain Amira scientists who work on both of these programs, and they will remain in San Diego.