Press release

First milestone achieved in multimillion-dollar collaboration

Published on 5 May 2023

University of Dundee spinout Amphista Therapeutics today announced the delivery of the first discovery milestone under a collaboration and licence agreement with global biopharmaceutical company Bristol Myers Squibb.

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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.”

Notes to editors

About Amphista Therapeutics

Amphista Therapeutics is focused on transforming the lives of patients with severe diseases, including cancer. The company is applying its proprietary Amphista degrader platform to advance new approaches in targeted protein degradation (TPD). They aim to address the challenges faced by earlier stage TPD research and to realise the full therapeutic potential of this transformational approach.

Founded by Advent Life Sciences, Amphista is a spin-out of TPD expert Professor Alessio Ciulli’s labs at the University of Dundee. The company has raised over $60 million to date and is funded by leading life science investors including Forbion, Gilde Healthcare, Novartis Venture Fund, Advent Life Sciences, Eli Lilly & Company and The Dementia Discovery Fund.

Amphista, the Amphista logo and Eclipsys are all trademarks of Amphista Therapeutics Limited


Grant Hill

Senior Public Affairs Officer

+44 (0)1382 384768