Atrium Therapeutics earns $15M development milestone payment from Bristol Myers

Atrium Therapeutics (RNA) has earned a $15M development milestone payment from Bristol Myers (BMY). The milestone was achieved upon the successful delivery of a development candidate for the first licensed compound targeting a cardiology indication under the company’s ongoing collaboration. The payment is pursuant to Atrium’s global licensing and research collaboration with Bristol Myers Squibb focused on the discovery, development and commercialization of innovative RNA-based therapies for multiple cardiovascular indications. Atrium is eligible to receive up to approximately $1.35B in research and development milestone payments, up to approximately $825M in commercial milestone payments, and tiered royalties up to low double-digits on net sales. Bristol Myers Squibb will fund all future clinical development, regulatory and commercialization activities coming from the collaboration.