Under the terms of the agreement, Simcere receives exclusive rights to develop and commercialize BMS-817378 in China while Bristol-Myers Squibb retains exclusive rights in all other markets. The parties will together determine the strategic development plan, which will initially be performed by Simcere. Financial terms were not disclosed.
"This ground-breaking partnership demonstrates how a leading research and development based Chinese company can work together with a global pharmaceutical company to accelerate a drug development timeline and conduct first-in-human studies in China. This approach allows the partnership to leverage our well-recognized clinical and regulatory capabilities and our access to the vast patient pool in China," commented Dr. Peng Wang, chief scientific officer, Simcere Pharmaceutical Group.
"We are committed to working with companies in China in a creative and innovative fashion. This new partnership represents just such an example," said Francis Cuss, senior vice president, Research, Bristol-Myers Squibb. "We are excited to embark on this partnership with Simcere. Working together we are building on the strengths of both organizations to develop potential medicines and help patients."
About Bristol-Myers Squibb
Bristol-Myers Squibb is a global biopharmaceutical company whose mission is to discover, develop and deliver innovative medicines that help patients prevail over serious diseases. For more information, please visit www.bms.com.
About Simcere Pharmaceutical Group
Simcere Pharmaceutical Group (NYSE:SCR, Simcere) is a leading pharmaceutical company specializing in development, manufacturing, and marketing of branded generic and proprietary pharmaceuticals in China. In recent years, Simcere has been focusing its strategy on the development of innovative pharmaceuticals and first-to-market generics, and has introduced an innovative anti-cancer medication Endu, a first-to-market medication Sinofuan, and first-to-market generics such as Bicun and Anxin. Simcere manufactures and sells anti-infective medication, anti-cancer medication and stroke management medication. Simcere concentrates its research and development efforts on the treatment of diseases with high incidence and/or mortality rates and for which there is a clear demand for more effective pharmacotherapy such as cancer, strokes, orthopaedics and infectious diseases. For more information about Simcere Pharmaceutical Group, please visit http://www.simcere.com.