Bristol-Myers Squibb, Isis announce partnership for cholesterol drug

CARLSBAD, Calif. Bristol-Myers Squibb has paid Isis Pharmaceuticals a $6 million milestone payment for regulatory approval to begin an early-stage clinical trial of a cholesterol-lowering drug, Isis announced Monday.

Bristol and Isis are developing the drug BMS-PCSK9Rx, a so-called “antisense” drug that targets the enzyme PCSK9 to lower low-density lipoprotein, or LDL, cholesterol, also known as “bad” cholesterol.

“We are pleased with the success of our partnership with Bristol-Myers Squibb, and our ability to deliver a drug candidate within the first year of the collaboration,” Isis chairman and CEO Stanley Crooke said. “We are looking forward to Bristol-Myers Squibb initiating a phase 1 clinical trial shortly.”