4/17/2013

Bristol-Myers Squibb and Santaris Pharma, which specializes in developing drugs against mRNA and microRNA targets, agreed to collaborate in the discovery and development of drugs using the latter's locked nucleic acid drug technology. Santaris will get research and discovery funding, as well as a $10 million upfront payment from Bristol. The deal also entitles Santaris to as much as $90 million in milestone fees per product plus sales royalties.

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