BMS likes what it sees from Prothena’s anti-tau targeting approach, opts in for clinical mAb

By exercising an option it acquired via its takeout of Celgene, BMS is paying $80 million for U.S. rights to an anti-tau asset for Alzheimer’s disease that Prothena believes could be best in class due to the biotech’s choice of epitope.

Bristol Myers Squibb Co. (NYSE:BMY) will obtain an exclusive license in the U.S. to PRX005 from Prothena Corp. plc (NASDAQ:PRTA) under an agreement the biotech had forged with Celgene Corp. in 2018, the year before BMS purchased Celgene...