Under the deal – first inked in December 2009 for a period of two years –Tranzyme provides its proprietary drug discovery technology, Macrocyclic Template Chemistry (MATCH), to identify candidates.
Bristol-Myers Squibb (B-MS) then completes the preclinical and clinical development of all products arising from the collaboration, and is responsible for their commercialisation.
The new agreement gives B-MS an additional six months, with the option to further extend the collaboration after June 2012.
North Carolina, US- based Tranzyme will continue to receive funding from its partner and is eligible for the same development and regulatory milestones and tiered royalties for each product resulting from the collaboration.
Excluding royalties, milestone payments under the agreement could reach up to $80m (€58m) for each target programme.