Prothena To Receive $80 Mln From Bristol Myers For US License To PRX005 On Alzheimer's Disease

(RTTNews) - Bristol Myers Squibb exercised its option under the global neuroscience research and development collaboration to enter into an exclusive U.S. license for PRX005. Bristol Myers will pay Prothena $80 million, Prothena Corporation plc (PRTA) said in a statement.

PRX005 is designed to be a best-in-class anti-tau antibody by specifically targeting an area within the microtubule binding region (MTBR) for the potential treatment of Alzheimer's disease. Phase 1 study with PRX005 has initiated.

Prothena said that scientific evidence suggests the MTBR of tau is most closely associated with the pathogenic spread of tau. The presence of MTBR fragments in cerebrospinal fluid have also been shown to correlate with dementia stages in Alzheimer's disease to a higher degree than fragments of other tau regions.