Bristol-Myers Squibb, Simcere partner to develop cardiovascular compound
Bristol-Myers Squibb and Simcere Pharmaceutical Group have 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). Inhibiting CETP could potentially raise HDL levels and help prevent cardiovascular disease.
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. The companies will together determine the strategic development plan to explore the potential of BMS-795311 to treat and prevent progression of cardiovascular disease. Simcere will run and fund initial development work.
"We reached another important milestone in our partnership with Bristol-Myers Squibb by expanding the collaboration to a second program. It further demonstrates our commitment and capabilities in building a sustainable development platform with our strategic partners. We are excited to continue the momentum and leverage our combined strengths in product development," said Dr. Peng Wang, chief scientific officer, Simcere Pharmaceutical Group.