Nitto Denko Corporation (6988: Tokyo), a Japanese industrial and
technology conglomerate, and Bristol-Myers Squibb Company (NYSE:
BMY) today announced that the companies have entered into an
agreement granting BMS exclusive worldwide rights for the
development and commercialization of Nitto's investigational
siRNA molecules targeting heat shock protein 47 (HSP47) in vitamin
A containing formulations, which includes Nitto's lead asset
ND-L02-s0201, currently in Phase 1b study for the treatment of
advanced liver fibrosis. The agreement also grants BMS the option
to receive exclusive licenses to Nitto's siRNA therapy for the
treatment of lung fibrosis and other organ fibrosis. The agreement
is subject to clearance under the applicable waiting period under
the Hart-Scott-Rodino Antitrust Improvements Act.
As part of the agreement, BMS will make an upfront payment of
$100 million to Nitto. Additionally, Nitto will be eligible to
receive subsequent clinical and regulatory milestone payments,
royalties, sales based milestone payments, as well as option
Established in 1918, Nitto, led by President, CEO and COO Hideo
Takasaki, is currently expanding its businesses as a global market
leader across several industries, including electronics,
automotive, housing, infrastructure, environmental, and medical
sectors, operating through over 100 companies worldwide with over
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The Ministry of Corporate Affairs ("MCA") vide Notification1 dated December 7, 2016 had notified various provisions of the Companies Act, 2013 (hereinafter referred as "CA 2013") which have come into force with effect from December 15, 2016.
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