Bristol-Myers Squibb to develop targeted anti-cancer agents using Endocyte technology

By Angela McDaniels

Seattle, Jan. 5 - Endocyte Inc. said it has licensed to Bristol-Myers Squibb Co. its vitamin-targeting technology. Bristol-Myers Squibb will use the technology to target its proprietary epothilone cancer chemotherapeutics agents specifically to tumors, thus sparing healthy cells from the toxic effects of chemotherapy.

Under the terms of the license, Bristol-Myers Squibb will pay a $3 million license payment, milestone payments and royalties on the sales of any products that result from the license. Bristol-Myers Squibb is also responsible for all development, manufacturing, registration and marketing of the resulting products.

Endocyte said the license is a result of an ongoing collaborative research effort between the two companies to create novel folate conjugates of Bristol-Myers Squibb's epothilone compounds.

Based in New York, Bristol-Myers Squibb is a pharmaceutical and related health care products company.

Endocyte is a privately held company based in West Lafayette, Ind., that develops receptor-targeted therapeutics, or "smart drugs," that reduce side effects by targeting drugs to receptors present on diseased cells.

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