Bristol-Myers will pay Facet $15M milestone fee for cancer drug

01/11/2010 | Boston Globe (tiered subscription model), The

Facet Biotech will get a milestone payment of $15 million from Bristol-Myers Squibb after it started enrolling patients into a Phase II trial of elotuzumab, a multiple myeloma drug. Meanwhile, Bristol-Myers decided not to expand its development deal with Facet for PDL241, an experimental treatment for immune system disorders.

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