Terray Therapeutics and Bristol Myers Squibb Announce Collaborative Partnership on Multiple Targets
Friday, December 15, 2023
Terray Therapeutics, a biotechnology company, has announced a collaborative agreement with Bristol Myers Squibb (NYSE: BMY) to discover and develop small molecule therapeutics in specific disease areas. According to the agreement, Terray will use its tNova platform to identify and develop small molecule compounds against targets chosen by Bristol Myers Squibb. Bristol Myers Squibb will take over the responsibility for development and commercialization, and Terray will receive an upfront payment. Additionally, Terray is eligible for milestone payments related to preclinical, clinical, and sales achievements, as well as tiered royalties on net sales of products commercialized by Bristol Myers Squibb in connection with the collaboration.
Dr. Jacob Berlin, CEO of Terray Therapeutics, expressed pride in partnering with Bristol Myers Squibb, emphasizing the combination of the platform's scale, precision, and speed with the expertise of Bristol Myers Squibb. Terray's platform employs generative AI-driven drug discovery, integrating chemical experimentation and computation. The company adopts an iterative approach, generating purpose-built data to optimize small molecules for complex challenges in drug discovery.
Source: prnewswire.com
