Amphista Therapeutics accomplishes its first discovery milestone in cooperation with Bristol Myers Squibb

Amphista Therapeutics, a pioneer in next-generation targeted protein degradation (TPD) techniques, reported the achievement of the first discovery milestone under its cooperation and licence agreement with Bristol Myers Squibb, triggering a payment. "We are absolutely delighted with the progress and success of our collaboration with BMS," stated Nicola Thompson, CEO of Amphista. Our ability to achieve our first milestone within the first year of our collaboration demonstrates the strength of our Eclipsys platform as well as our desire to be a world-leading, next-generation protein degradation firm."

The collaboration and licence agreement with Bristol Myers Squibb was announced on May 4, 2022, and included a $30 million upfront payment, up to $1.25 billion in performance-based milestone payments, payment for a limited expansion of the collaboration, and royalties on global net product sales. Amphista is in charge of discovering and developing small chemical protein degraders on its next-generation TPD platform, Eclipsys. Bristol Myers Squibb has been granted a worldwide exclusive licence to the resulting degraders and will be in charge of subsequent development and commercialization efforts. Amphista's next generation bifunctional chemicals employ a new method that employs a broader variety of the body's own natural protein degradation pathways than most other TPD firms.

This patented technique has the potential to overcome many of the constraints associated with conventional TPD approaches, allowing for the treatment of a broader range of disorders. Amphista focuses on biological targets with strong clinical or genetic confirmation. Amphista Therapeutics is dedicated to improving the lives of patients suffering from serious diseases such as cancer. The company is advancing innovative ways in targeted protein degradation (TPD) using its patented Amphista degrader platform.