Schrödinger inks multi-target drug discovery deal with Bristol-Myers

 

• Schrödinger (NASDAQ:SDGR) jumps 7% premarket on collaboration with Bristol-Myers Squibb (NYSE:BMY) to discover, develop, and commercialize therapeutics in multiple disease areas.
• The collaboration includes two of Schrödinger’s early-stage programs and additional undisclosed targets.
• Under the terms of the agreement, Bristol-Myers will pay $55M upfront, and Schrödinger will also be eligible to receive up to $2.7B in milestone payments plus royalties.
• Schrödinger will be responsible for the discovery of development candidates and has agreed to grant BMY exclusive worldwide rights to develop and commercialize the development candidates generated by the collaboration.
• https://seekingalpha.com/news/3638576-schrodinger-inks-multi-target-drug-discovery-deal-bristol-myers-squibb