Bristol-Myers Squibb to acquire Padlock Therapeutics for up to $600m
pharmafile | March 23, 2016 | News story | Research and Development, Sales and Marketing | Bristol-Myers Squibb, Padlock Therapeutics, rheumatoid arthritis
Bristol-Myers Squibb is to acquire Massachusetts-based auto-immune disease specialist Padlock Therapeutics in a deal worth up to $600 million.
The acquisition, for an initial $225 million in upfront payments and near term contingent milestone payments, will give BMS access to Padlock’s Protein/Peptidyl Arginine Deiminase (PAD) inhibitor discovery program, which is focused on developing innovative treatment approaches for rheumatoid arthritis (RA).
The PAD program may also be extended to the treatment of systemic lupus erythematosus (SLE) and other autoimmune diseases.
PADs are a family of enzymes that produce autoantigens which play an active role in the development and progression of RA and other autoimmune diseases. Inhibiting PADs can help stop autoimmune diseases progressing early in their evolution, which could enable what BMS refers to as a “paradigm shift in treatment”.
The company says PAD4 inhibition, combined with currently-available therapies may increase and maintain the durable remission rates in RA patients with rapidly progressive disease.
“Targeting PAD enzymes has the potential to be one of the most innovative mechanisms for treating autoimmunity which both strengthens and accelerates our immunoscience pipeline,” says Francis Cuss, MB BChir, FRCP, executive vice president and chief scientific officer, Bristol-Myers Squibb. “By pursuing a treatment approach which may address disease progression earlier, we hope to transform the lives of patients with RA and other autoimmune diseases.”
“By targeting PADs, it may be possible to eliminate the antigens that drive autoimmunity with limited impact on the immune system, thereby creating breakthrough treatments,” adds Michael Gilman, PhD, founder and chief executive officer, Padlock Therapeutics. “In Bristol-Myers Squibb, we found an excellent home for our program based on their deep commitment to science and developing transformational therapies. We are confident that Bristol-Myers Squibb can leverage the scientific foundation built by Padlock’s founders, team, and advisors to help patients with serious autoimmune diseases.”
BMS may pay Padlock up to $375 million more if development is successful and drugs are approved by regulators. The transaction is set to close during the second quarter of 2016.
Joel Levy
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