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Bristol-Myers,
KAI Ink Development Pact Worth Up To $227M
May
13, 2008--Bristol-Myers
Squibb and KAI Pharmaceuticals inked an exclusive agreement for
the global development and commercialization of KAI-9803, a
first-in-class inhibitor of the delta protein kinase C pathway
that is designed to reduce the size of heart attack and improve
clinical outcomes during treatment of acute myocardial infarction.
KAI will receive $25 million upfront and may receive up to $192
million in milestone payments. At KAI’s
option, Bristol-Myers Squibb will purchase $10 million of KAI
stock at the time of a qualified initial public offering, or under
other specified future conditions. Bristol-Myers
Squibb
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