Amphista Therapeutics announced on September 26, 2023, that it has achieved the first milestone in the second active discovery programme under its strategic collaboration with Bristol Myers Squibb, triggering a milestone payment. This achievement marks continued progress in the partnership focused on next-generation targeted protein degradation approaches.
The milestone follows the first programme milestone achieved on May 4, 2023, demonstrating Amphista's ability to deliver across both active discovery programmes in the collaboration. Both programmes operate under the original agreement with Bristol Myers Squibb announced on May 4, 2022, which included a $30 million upfront payment and the potential for up to $1.25 billion in performance-based milestone payments, plus royalties on global net sales of products.
EclipsysTM Platform Drives Discovery Progress
Under the collaboration agreement, Amphista is responsible for the discovery and development of small molecule protein degraders using its proprietary EclipsysTM platform, described as a next-generation targeted protein degradation (TPD) technology. Bristol Myers Squibb receives global exclusive licensing rights to the resulting degraders and handles further development and commercialization activities.
Louise Modis, Chief Scientific Officer of Amphista Therapeutics, emphasized the significance of the achievement: "The achievement of this first milestone in the second discovery programme under Amphista's strategic collaboration with Bristol Myers Squibb is a testament to our innovative science and ability to discover and progress at pace differentiated, novel therapeutic molecules for our pharmaceutical partners."
Expanding Therapeutic Applications
Modis highlighted the platform's potential for central nervous system penetration, stating that the company continues "to expand the range of potential applications for Amphista's therapeutic modality." This capability addresses challenges faced by other target protein degradation modalities and represents a key differentiator for the company's approach.
The collaboration validates Amphista's unique approach to overcoming limitations in the targeted protein degradation field. The company aims to realize the full therapeutic potential of TPD approaches while addressing challenges faced by earlier-stage research in this area.
Company Background and Funding
Amphista Therapeutics focuses on transforming patient lives through treatments for severe diseases including cancer. The company emerged as a spin-out from Professor Alessio Ciulli's laboratories at the University of Dundee, founded by Advent Life Sciences.
The company has raised over $60 million to date, with backing from leading life science investors including Forbion, Gilde Healthcare, Novartis Venture Fund, Advent Life Sciences, Eli Lilly & Company, and The Dementia Discovery Fund. This funding supports the company's mission to advance new approaches in targeted protein degradation and address unmet medical needs in severe diseases.
