Bristol-Myers Squibb (NYSE:BMY) said today that it inked a collaboration agreement with Enterome to discover and develop microbiome-derived biomarkers and drug targets as potential companion diagnostics and therapeutics for cancer.
According to the agreement, Bristol-Myers Squibb will be given exclusive rights to intellectual property and therapies that result from the collaboration. Enterome will get an upfront payment of $15 million for its technology and funding for research and development. Enterome is eligible for preclinical and clinical milestone payments on each licensed therapy plus royalties on net sales, as well as additional milestone payments for new diagnostic products developed within the collaboration.
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