Bristol Myers Squibb (BMS; NYSE: BMY) has entered into an agreement with U.S.-based Terray Therapeutics to discover and develop multiple small-molecule drugs in undisclosed therapeutic areas. Under the terms of the agreement, BMS will receive development and commercialization rights, and in return, will provide Terray with upfront payments and potential milestone payments, as well as tiered royalties on sales of any successful drug candidates.
This partnership will utilize Terray’s generative AI-driven drug discovery platform, which employs cycles of chemical experimentation and computation to identify candidates against BMS’s specified targets. According to public data, BMS recently inked a similar partnership with Avidity Biosciences (NASDAQ: RNA), a developer of antibody oligonucleotide conjugates (AOCs).- Flcube.com
