Tekmira and Bristol-Myers in validation program

Tekmira Pharmaceuticals (TSX:TKM) has signed a four-year agreement with Bristol-Myers Squibb (NYSE:BMY) to validate certain cellular targets using its stable nucleic acid-lipid particles (SNALP) technology in exchange for an upfront payment of $3 million (U.S.).

Under the agreement, Bristol-Myers Squibb will use RNA interfering molecules formulated by Tekmira in SNALP to silence target genes of interest.  RNA interfering therapeutics have the potential to treat a broad range of human diseases by silencing disease causing genes. However, they require delivery technology to be effective.

Bristol-Myers Squibb will conduct the preclinical work to validate the function of certain genes and share these data with Tekmira, which can then use the preclinical data to develop RNA interfering therapeutic drugs against the therapeutic targets of interest. Bristol-Myers Squibb will have a first right to negotiate a licensing agreement on certain RNA interfering products developed by Tekmira that evolve from gene targets validated by Bristol-Myers Squibb.