NEW YORK — Bristol-Myers Squibb will acquire San Diego-based Amira Pharmaceuticals for $325 million, the two companies said Friday.
Amira develops pharmaceutical drugs for treating inflammatory and fibrotic diseases, and the deal includes milestone payments of up to $150 million on top of the upfront purchase price. Amira’s drugs include AM152, an investigational treatment for idiopathic pulmonary fibrosis, currently in early-stage clinical trials and set to enter mid-stage trials.
“As part of the continued execution of our focused BioPharma strategy, Bristol-Myers Squibb has identified fibrotic diseases as an area of high unmet medical need that complements our research efforts in several of our therapeutic areas,” Bristol EVP, chief scientific officer and president for research and development Elliott Sigal said. “The acquisition of Amira Pharmaceuticals represents the latest example of our ‘String of Pearls’ strategy, a highly targeted set of transactions designed to enrich our innovative pipeline with potential medicines to help patients in need.”