By Matt Grossman
Schrodinger Inc. and Bristol Myers Squibb Co. will collaborate on drug discovery using Schrodinger's physics-based software platform, Schrodinger said Monday.
In the collaboration, Schrodinger will work to discover drug-development candidates which Bristol will develop and commercialize.
Schrodinger will receive $55 million up front and will be eligible to receive up to $2.7 billion in milestone-based payments. Bristol will have exclusive world-wide rights to drug candidates generated in the partnership. Schrodinger will be entitled to royalties.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
11-23-20 0659ET