Tekmira, BMS Enter Multi-Year RNAi Pact

Tekmira Pharmaceuticals Corp. has entered into a multi-year target validation agreement with Bristol-Myers Squibb. BMS will use small interfering RNA (siRNA) molecules formulated by Tekmira in stable nucleic acid-lipid particles (SNALP) to silence target genes of interest. BMS will conduct the preclinical work to validate the function of certain genes and Tekmira will then develop RNAi therapeutic drugs against the therapeutic targets of interest. Tekmira will receive $3 million at the signing of the agreement and is responsible for providing a pre-determined number of the SNALP batches during the four-year agreement. BMS will have a first right to negotiate a licensing agreement on certain RNAi products developed by Tekmira that result from gene targets validated by BMS.

Tekmira’s pipeline currently consists of its lead RNAi therapeutic product candidate ApoB SNALP, which is being developed as a treatment for high LDL, or “bad” cholesterol. ApoB SNALP is scheduled to enter a Phase I-II clinical trial later this year. Also, Tekmira will file an IND and initiate a Phase I trial for its second product candidate, PLK1 SNALP, in 1H10. PLK1 SNALP is being developed as a treatment for cancer.

Dr. Mark J. Murray, Tekmira’s president and chief executive officer, said, “We are pleased to expand our relationship with Bristol-Myers Squibb, which has been a collaborator of ours for several years. This agreement provides Bristol-Myers Squibb with the opportunity to validate the function of certain cellular targets by using SNALP formulations supplied by Tekmira. Importantly, Bristol-Myers Squibb will share the data it generates with Tekmira. This will enable us to leverage the target validation capabilities of a global pharmaceutical company to identify our own RNAi product development opportunities.”