Bristol-Myers' deepens focus on fibrosis with Nitto deal

NITTO DENKO

10/11/2016 12:01

Nov 10 (Reuters) - Bristol-Myers Squibb Co  BMY.N  said on 
Thursday it agreed to pay Japan's Nitto Denko Corp  6988.T  $100 
million up front for the right to its early-stage drug for liver 
fibrosis due to  fatty liver disease NASH or hepatitis C. 
    Fibrotic diseases are characterized by inflammation and 
subsequent formation of excess collagen in an organ or tissue, 
compromising function, and culminating in organ failure. 
    Under the deal, Nitto is eligible to receive clinical and 
regulatory milestone payments and royalties, and Bristol-Myers 
has the option to get exclusive licenses for Nitto's other 
experimental drugs for lung fibrosis and other organ fibrosis. 
    Bristol-Myers has been sharpening its focus on fibrosis. In 
July 2015, it struck a collaboration with the Medical University 
of South Carolina, to better understand scleroderma, renal 
fibrosis and idiopathic pulmonary fibrosis. 
    It also has the option to buy privately held Promedior Inc 
and Swedish biotechnology company Galecto Biotech, both of which 
are fibrosis drug developers. 
 
 (Reporting by Natalie Grover in Bengaluru; Editing by Saumyadeb 
Chakrabarty) 
 ((natalie.grover@thomsonreuters.com)(;)(within U.S. +1 646 223 
8780, outside U.S. +91 99 1694 7070)(; Reuters 
Messaging:)(natalie.grover.thomsonreuters.com@reuters.net)) 
 
Keywords: BRISTOL MYERS NITTO DENKO