Bristol-Myers Squibb completes acquisition of Amira Pharmaceuticals
Posted: 8 September 2011 | | No comments yet
Bristol-Myers Squibb Company has completed its previously announced acquisition of privately held Amira Pharmaceuticals, Inc…
Bristol-Myers Squibb Company (NYSE: BMY) announced today that it has completed its previously announced acquisition of privately held Amira Pharmaceuticals, Inc., a small-molecule pharmaceutical company focused on the discovery and early development of new drugs to treat inflammatory and fibrotic diseases. As a result of the transaction, Amira has become a wholly-owned subsidiary of Bristol-Myers Squibb. The acquisition of Amira Pharmaceuticals’ fibrosis program, including the lead asset AM152, an orally available lysophosphatidic acid 1 (LPA1) receptor antagonist which has completed Phase I clinical studies and is now poised for Phase IIa proof-of-confidence studies for the treatment of idiopathic pulmonary fibrosis (IPF) and systemic Sclerosis (SSc), or scleroderma, marks Bristol-Myers Squibb’s entrance into fibrotic diseases, an area of high unmet medical need which is complementary to its current therapeutic areas of focus. Bristol-Myers Squibb also has obtained Amira’s preclinical autotaxin program, which may be useful in the treatment of neuropathic pain and cancer metastases. The transaction was originally announced on July 21, 2011, and has met all customary regulatory approval obligations.