AMRI gets $1.5M milestone under B-MS accord

AMRI says that a second compound being developed under its license and research agreement with US drug major Bristol-Myers Squibb will proceed into preclinical development. As a result, the Nasdaq-listed drug developer will receive a $1.5 million payment for the nomination of this clinical candidate, marking the third milestone in the ongoing R&D collaboration between the two companies to develop improved treatments for depression and diseases of the central nervous system. Under the terms of their 2005 agreement, B-MS exclusively licensed a series of biogenic amine reuptake inhibitors from AMRI's proprietary program.