BIOCON – BRISTOL-MYERS SQUIBB: 2012
Biocon entered into an option agreement with Bristol-Myers Squibb for Biocon's IN-105, an oral insulin drug candidate
Biocon to continue development of IN-105 through Phase II; Bristol-Myers Squibb will have an exclusive option to further develop and commercialize IN-105, pending outcome of clinical trials.
Under the terms of the agreement, Bristol-Myers Squibb will have the right to exercise an option to obtain an exclusive worldwide license to the program. Biocon will conduct clinical studies to further characterize IN-105's clinical profile according to a pre-agreed development program up to the completion of Phase II.
If Bristol-Myers Squibb exercises its option to license IN-105 following the successful completion of the Phase II trial, Bristol-Myers Squibb will assume full responsibility for the development program, including all development and commercialization activities outside India. Biocon will receive a license fee in addition to potential regulatory and commercial milestone payments and royalties on commercial sales of IN-105 outside India. Biocon will retain exclusive rights to IN-105 in India.