JHVEPhoto Prothena ( NASDAQ: PRTA ) said Bristol Myers Squibb ( BMY ) has exercised its option to exclusively license its drug candidate PRX019 for development as a potential treatment for neurodegenerative diseases. The licensing deal is the second clinical development program generated under Prothena’s collaboration agreement with Bristol Myers, according to the company Under the agreement, Prothena will receive $80M and be eligible for up to $617.5M in various milestone payments, plus tiered royalties on future net sales.
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