Under the terms of the agreement, Bristol-Myers Squibb will make an upfront payment of $100 million to Nitto. Bristol-Myers Squibb will be responsible for the development, manufacture, and commercialization of HSP47 siRNAs in vitamin A containing formulations for all liver diseases. Nitto is also eligible to receive subsequent clinical and regulatory milestone payments, royalties, sales based milestone payments as well as option exercise payments for lung and other organ fibrosis.About Fibrosis and NASH Fibrotic diseases are characterized by inflammation and subsequent formation of excess collagen in an organ or tissue, compromising function and ultimately leading to organ failure. Non-alcoholic steatohepatitis (NASH) is characterized by fatty infiltration of the liver not caused by alcohol. NASH may progress to liver fibrosis, cirrhosis, hepatocellular carcinoma and liver failure, and is expected to be the leading cause of liver transplant by 2030. The severity of liver fibrosis (scar tissue in the liver) is measured on a scale of F0 (normal) to F4 (cirrhosis) in a liver biopsy specimen. F3 and F4-compensated ("F4c) are considered advanced NASH. Approximately 20 million patients in the U.S. have NASH with three to four million of those patients being F3 or F4c. No approved pharmacologic therapies for NASH exist. About Bristol-Myers Squibb Bristol-Myers Squibb is a global biopharmaceutical company whose mission is to discover, develop and deliver innovative medicines that help patients prevail over serious diseases. For more information about Bristol-Myers Squibb, visit us at BMS.com or follow us on LinkedIn, Twitter, YouTube and Facebook. About Nitto Denko Corporation Founded in 1918, Nitto is Japan's leading materials manufacturer offering over 13,500 diversified industrial products to more than 70 business fields as electronics, automobiles, ecology and life science. We aim to offer value to Green (environment), Clean (new energy) and Fine (life science) markets. For more information about Nitto, visit us at http://www.nitto.com/jp/en/ Bristol-Myers Squibb Forward-Looking Statement This press release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995 regarding the research, development and commercialization of pharmaceutical products. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes and results to differ materially from current expectations. No forward-looking statement can be guaranteed. Among other risks, there can be no guarantee that the investigational compounds discussed in this release will be successfully developed or approved for any of the indications described in this release. Forward-looking statements in this press release should be evaluated together with the many uncertainties that affect Bristol-Myers Squibb's business, particularly those identified in the cautionary factors discussion in Bristol-Myers Squibb's Annual Report on Form 10-K for the year ended December 31, 2014 in our Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K. Bristol-Myers Squibb undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.