Date: 2012-09-11
Type of information: Licensing agreement
Compound: Seglin™ technology
Company: Summit (UK) BMS (USA)
Therapeutic area:
Type agreement: licensing
Action mechanism: The importance of proteins and nucleic acids is well established in drug discovery but the targeting of carbohydrate biology remains largely underexploited. Seglin™ technology is an innovative drug discovery platform that aims to address this by using appropriate new chemistry space to access these carbohydrate drug targets. Seglins are orally available small molecules that act as carbohydrate mimics meaning they are ideally placed to exploit new carbohydrate related drug targets.
Disease:
Details: The drug discovery company Summit has entered a technology license agreement with BMS under which BMS will use Summit’s proprietary Seglin™ technology to identify and develop drug candidates for up to ten targets across multiple therapeutic areas.
Under the terms of the agreement, Bristol-Myers Squibb will be responsible for the discovery stage research and will have the exclusive right to develop and commercialise any Seglin products that are identified. Summit will receive a $100,000 technology access fee and is eligible for research, development and regulatory milestones of up to $30 million per product, plus royalties on worldwide sales of products arising from the technology.
Financial terms: Summit will receive a $100,000 technology access fee and is eligible for research, development and regulatory milestones of up to $30 million per product, plus royalties on worldwide sales of products arising from the technology.
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