BMS, Allergan in Pain Pact

Bristol-Myers Squibb and Allergan have entered a global agreement for the development and commercialization of AGN-209323, a Phase II-ready, orally administered small molecule in clinical development for neuropathic pain.

BMS will gain exclusive worldwide rights to develop, manufacture and commercialize AGN-209323 and backup compounds. The agreement encompasses all potential indications, except ophthalmology indications for products formulated for local delivery to the eye, for which Allergan will retain certain rights. BMS will make an upfront payment of $40 million, potential AGN-209323 related development- and regulatory-based milestone payments of up to $373 million, and royalty payments on worldwide sales.

“There is significant unmet medical need for a more efficacious and tolerable therapy for neuropathic pain,” said Francis Cuss, senior vice president, Discovery and Exploratory Clinical Research, BMS. “We are pleased to have the opportunity to develop this potential first-in-class compound that could help patients prevail over chronic pain and strengthen our neuroscience pipeline.”

AGN-209323 was discovered as part of a collaboration between Allergan and ExonHit Therapeutics.