Icagen And Bristol-Myers Squibb Renew Drug Discovery And Development Collaboration

23-Oct-2001

Icagen, Inc. announced today that it has renewed its research and development agreement with Bristol-Myers Squibb Company (NYSE: BMY) for the discovery and development of small molecule drugs targeting a specific ion channel involved in atrial fibrillation, a common cardiovascular disorder in which the heart beats irregularly. Bristol-Myers Squibb and Icagen elected to renew the collaboration due to the excellent working relationship between the two research groups. The renewal provides for continued research and development funding by Bristol-Myers Squibb.

"Atrial fibrillation, which disrupts the normal contraction of the heart, is associated with increased cardiovascular morbidity and mortality," said Alejandro Aruffo, Vice President, Hopewell Biology, Metabolics and Cardiovascular Discovery, Bristol-Myers Squibb. "We are committed to finding a safe and effective treatment to restore normal cardiac rhythm. By extending this collaboration, we believe we will improve our chances for success in the development of a novel, first-in-class drug to address a significant medical need."

Said Dr. Kerry Spear, Icagen's Vice President of Chemistry, "While treatments currently exist for atrial fibrillation, they cause a wide variety of side effects due to lack of target specificity. Together with Bristol-Myers Squibb, Icagen is developing therapies that are highly specific to selected ion channels. Thus, these compounds should reduce or eliminate unwanted side effects."

"Our combined efforts to date have identified a lead compound and back-up compounds that may lead to a safe and effective treatment for atrial fibrillation. We are extremely pleased that Bristol-Myers Squibb has elected to renew our collaboration," said P. Kay Wagoner, Ph.D., President and CEO of Icagen.

As previously announced, the Bristol-Myers Squibb/Icagen collaboration, which began in 1997, provided for an initial up-front payment, research funding and milestone payments to Icagen in return for worldwide rights to lead compounds generated for the treatment of atrial fibrillation. Additionally, Bristol-Myers Squibb supports clinical development and Icagen will receive royalties from the sale of any products generated by the collaboration.

Atrial fibrillation, the most common sustained cardiac arrhythmia, is a condition in which the electrical signal to the upper chamber of the heart becomes irregular and results in rapid, uncoordinated cardiac contraction. It is associated with an increased risk of stroke, heart failure, and early death. In the United States alone, over 2.5 million people are effected by atrial fibrillation, with an estimated 160,000 new cases diagnosed each year.

https://www.chemeurope.com/en/news/5550/icagen-and-bristol-myers-squibb-renew-drug-discovery-and-development-collaboration.html