Bristol-Myers Squibb Company BMY and Oncolys BioPharma Inc. announced today that the companies have signed a definitive agreement under which Bristol-Myers Squibb will acquire exclusive worldwide rights to manufacture, develop and commercialize festinavir, a once-a-day, orally available nucleoside reverse transcriptase inhibitor (NRTI) in Phase II development for HIV.
Under the terms of the agreement, Oncolys may receive up to $286 million including upfront, development, regulatory and sales milestone payments. Oncolys is also eligible to receive tiered royalties on the worldwide product sales.
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