First milestone achieved in multimillion-dollar collaboration

Amphista creates first-in-class targeted protein degradation (TPD) therapeutics that harness the body’s natural processes to degrade and remove disease-causing proteins selectively and efficiently.

The collaboration and license agreement with Bristol Myers Squibb (BMS) was announced last year and included a $30 million upfront payment, the potential for up to $1.25 billion in performance-based milestone payments and payment for a limited expansion of the collaboration, as well as royalties on global net sales of products.

The company is a spinout from the lab of Professor Alessio Ciulli at the University’s School of Life Sciences. Amphista’s proprietary approach offers the potential to overcome many of the limitations seen with current TPD approaches, providing the opportunity to treat a wider range of diseases. Amphista is focused on biological targets with a high level of clinical or genetic validation.

Nicola Thompson, CEO of Amphista, said, “We are absolutely delighted with the progress and success of our collaboration with BMS. Our ability to deliver our first milestone within the first year of our collaboration exemplifies the strength of our Eclipsys™ platform and our ambition to be a world-leading, next-generation protein degradation company.”