Allergan, Bristol-Myers Squibb sign global exclusive license agreement for EHT/AGN 0001

“We are happy that our collaboration with ExonHit has led to a successful clinical program and to have BMS committed to developing this novel therapy for neuropathic pain”

• ExonHit to receive upfront payment of USD $4 million
• ExonHit may receive from Allergan potential milestone payments exceeding USD $32 million as well as royalties on product sales
• Original compound discovered by ExonHit using its profiling technology

ExonHit Therapeutics (Paris:ALEHT) today reported the signing by Allergan, Inc. (NYSE: AGN) and Bristol-Myers Squibb Company (NYSE: BMY) of a global exclusive license agreement for the development and commercialization of EHT/AGN 0001 (AGN-209323), ExonHit’s lead compound from the most advanced program of its collaboration with Allergan. EHT/AGN 0001 is a Phase II-ready, orally bio-available small molecule in clinical development for neuropathic pain. This agreement between Allergan and Bristol-Myers Squibb also encompasses EHT/AGN 0002 and associated back-up compounds.

“Today’s announcement further demonstrates the value of our technology platform and the gain in discovery speed it provides. We are very excited that an ExonHit-synthesized drug candidate discovered within the ExonHit and Allergan collaboration is moving forward with Bristol-Myers Squibb,” said Loïc Maurel M.D., President of ExonHit Therapeutics' Management Board.

“We are happy that our collaboration with ExonHit has led to a successful clinical program and to have BMS committed to developing this novel therapy for neuropathic pain,” said Scott M. Whitcup, M.D., Executive Vice President, Research & Development and Chief Scientific Officer at Allergan. ”We look forward to continuing our work with ExonHit and to discovering and developing additional promising compounds.”

Due to the sublicense granted by Allergan to Bristol-Myers Squibb, ExonHit will receive an upfront payment of USD $4 million. ExonHit may also receive potential EHT/AGN 0001 related development- and regulatory-based milestone payments exceeding USD $32 million and royalties on future worldwide sales.

The effectiveness of the license agreement between Bristol-Myers Squibb and Allergan is subject to antitrust clearance by the U.S. Federal Trade Commission and Department of Justice under the provisions of the Hart-Scott-Rodino Antitrust Improvements Act of 1976, and other customary regulatory approvals.

ExonHit will continue its collaboration with Allergan on other compounds.