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Bristol Myers Gains Rights to Rockefeller's Covid Treatment

Bristol Myers obtained 'a global exclusive license to develop, manufacture and commercialize' Rockefeller University's drug, Bristol said.
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Bristol Myers Squibb  (BMY) - Get Bristol-Myers Squibb Company Report announced Wednesday that it reached a deal with Rockefeller University giving the drug giant rights to Rockefeller’s Covid treatment.

Under the agreement, the company gained “a global exclusive license to develop, manufacture and commercialize Rockefeller’s novel monoclonal antibody (mAb) duo treatment that neutralizes the SARS-CoV-2 virus for therapy or prevention of Covid-19,” Bristol Myers said in a statement.

Monoclonal antibody treatments imitate proteins the body naturally produces to fight viruses. They are among the few treatments that keep patients with early Covid-19 symptoms from ending up in the hospital.

“Despite the increasing availability of the vaccines, there will continue to be patients who contract Covid-19 and will need treatment for their infection,” Bristol Myers said. “This novel treatment is a combination of two mAbs directed at blocking the SARS-CoV-2 spike protein and neutralizing the virus.”

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Further, “the mAbs have been engineered to be highly potent and stable, allowing them to last longer in the bloodstream,” the company said. “Preclinical data suggest that this could enable effective treatment against multiple variants of the virus using a low dose subcutaneous administration, which would increase access to the medicine by eliminating the need for intravenous infusion.”

Phase 1 clinical trials began in mid-January. But the news didn’t help Bristol Myers stock much. It recently traded at $62.69, down 0.40%, but has gained 17% over the past six months amid enthusiasm for coronavirus vaccines. The company reports earnings Thursday before the market opens.

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