Schrdinger Enters Into Discovery Collaboration With Bristol Myers Squibb - Quick Facts

(RTTNews) - Schrdinger, Inc. (SDGR) said Monday it has entered into a multi-year discovery collaboration with Bristol Myers Squibb Co. (BMY) to discover, develop, and commercialize therapeutics in multiple disease areas.

Under the collaboration, Schrdinger's will combine its physics-based computational platform and drug discovery capabilities with Bristol Myers Squibb's expertise in development and commercialization to advance small molecule therapeutics for targets in oncology, immunology, and neurological disorders.

The collaboration includes two of Schrdinger's early-stage programs and additional undisclosed targets.

Schrdinger will be responsible for the discovery of development candidates for each of the targets under the collaboration. Bristol Myers Squibb will be responsible for the development, manufacturing, and commercialization of the candidates.

Under the terms of the deal, Bristol Myers Squibb will pay Schrdinger $55 million upfront. Schrdinger will also be eligible to receive up to $2.7 billion in preclinical, development, regulatory and sales-based milestone payments.

In addition, Schrdinger is entitled to receive royalties on net sales of each product commercialized by Bristol Myers Squibb.

Schrdinger has agreed to grant Bristol Myers Squibb exclusive worldwide rights to develop and commercialize the development candidates generated by the collaboration.