Bristol-Myers Squibb is adding two oncology drugs to its pipeline with the acquisition of Kosan Biosciences. The company is paying $5.50 per share in cash for Kosan and gains two anticancer agents: novel Hsp90 (heat shock protein 90) inhibitors and epothilones.
"Kosan has done great work advancing two classes of novel anticancer medicines: epothilones and Hsp90 inhibitors," said Elliott Sigal, M.D., Ph.D., executive vice president and chief scientific officer, Bristol-Myers Squibb. "Epothilones are microtubule stabilizers with multiple therapeutic applications in various cancers and potentially in neurodegenerative diseases. The Hsp90 program includes a Phase III compound for the treatment of patients with multiple myeloma, an area of high unmet medical need."
- see the buyout announcement [1] for more
Related Articles:
BMS inks $227M collaboration deal with KAI [2]
Analysts put BMS on takeover menu [3]
Kosan launches mid-stage study [4]
Links:
[1] http://www.fiercebiotech.com/press-releases/bristol-myers-squibb-company-acquire-kosan-biosciences
[2] http://www.fiercebiotech.com/story/bms-inks-227m-collaboration-deal-with-kai/2008-05-13
[3] http://www.fiercepharma.com/story/analysts-put-bms-on-takeover-menu/2008-03-28
[4] http://www.fiercebiotech.com/story/also-noted-arqule-hires-new-ceo-kosan-launches-mid-stage-study-and-much-mor/2008-04-15