Drug development accelerator BioMotiv has partnered with Bristol-Myers Squibb to launch a new biotechnology company, Anteros Pharmaceuticals.

The new firm will be involved in developing a new class of drugs for fibrotic and other inflammatory diseases.

Anteros has been launched as part of the strategic partnership agreement, which was first signed in September 2019.

Yale University has developed the intellectual property behind Anteros and was earlier in-licenced by Bristol-Myers Squibb and later assigned to Anteros.

BioMotiv CEO Satish Jindal said: “Anteros Pharmaceuticals is the first of several companies that BioMotiv and Bristol-Myers Squibb intend to form under the Strategic Partnership Agreement.

“Anteros will focus on refining a new class of drug candidates for inflammatory diseases, where currently there are no real answers to multiple diseases that afflict millions of patients.

“Our broader mission is to translate novel discoveries into breakthrough therapies for patients in need, forming companies such as Anteros to achieve this goal.”

Terms of the partnership between BioMotiv and Bristol-Myers Squibb

As per the terms of the partnership, Bristol-Myers Squibb will provide the IP, data, and reagents for a series of small molecules against an undisclosed mechanism.

BioMotiv, through the formation of Anteros Pharmaceuticals, will be solely accountable for research and development.

Bristol-Myers Squibb has the option to acquire the company from BioMotiv, under pre-agreed terms, once Anteros nominates a preclinical candidate

Bristol-Myers Squibb research and early development executive vice president Rupert Vessey said: “Bristol-Myers Squibb is committed to partnering with innovative collaborators like BioMotiv, which expand our reach and capabilities in early-stage research.

“These types of partnerships also enable us to progress the transformational research being performed at leading academic institutions such as Yale and effectively translate those discoveries into new therapies for patients.”

BioMotiv is a mission-driven accelerator associated with The Harrington Project for Discovery & Development, a $340m initiative focused on advancing early-stage breakthrough discoveries from research institutions into medicines.