BMS Enters Exclusive Agreement to Acquire Galecto's IPF Treatment

Bristol-Myers Squibb (BMS) announced on Nov. 3, 2014 that it signed an exclusive option agreement to acquire Galecto Biotech AB and worldwide rights to TD139, a novel inhaled inhibitor of galectin-3 for the treatment of idiopathic pulmonary fibrosis (IPF). Total payments under the agreement could reach up to $444 million including the option fee, option exercise fee, and milestone payments.

“TD139 provides Bristol-Myers Squibb an opportunity to advance the company’s fibrosis development program with the addition of a promising compound that has the potential to modulate multiple disease pathways,” said Francis Cuss, MB BChir, FRCP, executive vice-president and chief scientific officer, BMS, in a press release.

TD139 is a highly potent, hyperlocalized inhibitor that targets fibrotic tissue in the lungs and minimizes systemic exposure. Galectin-3 is a protein that binds to carbohydrate structures in the body and plays a central role in various types of fibrosis. According to Galecto, Galectin-3 exists both intra- and extracellularly and binds to glycosylated proteins as it targets and inhibits the protein’s binding ability. Galecto announced that Phase I/IIa trials had been initiated for TD139 in October 2014.

“We have confirmed the anti-fibrotic activity of our lead compound, TD139, in several preclinical models and now have taken the compound into clinical testing in healthy volunteers followed by patient studies in early 2015,” said Hans Schambye, MD, PhD, and CEO, Galecto Biotech in a press release.

Other treatments for IPF have recently been in the media. OFEV from Boehringer Ingelheim and Esbriet from Genetech were both approved by FDA on Oct. 15, 2014, becoming the first IPF treatments on the market.

Source: Bristol-Myers Squibb