AMRI to Receive Milestone Payment from Bristol-Myers Squibb for the Initiation of a Phase II Study

AMRI AMRI today announced that it will receive a $3 million milestone payment from Bristol-Myers Squibb Company BMY resulting from a recently initiated Phase 2 clinical trial of an AMRI compound exclusively licensed to Bristol-Myers Squibb. This is the sixth milestone payment originating from a 2005 agreement in which AMRI licensed to Bristol-Myers Squibb its technology around central nervous system triple reuptake transporter inhibitors as potential improved treatments for depression and diseases of the CNS. This payment brings the total milestone and licensing fees earned by AMRI related to the 2005 license agreement to $22.75 million. AMRI has also received $10 million in research collaboration fees under the agreement. In addition to the compound entering Phase II clinical evaluation, Bristol-Myers Squibb is continuing to evaluate other collaboration compounds for depression and other indications.