LianBio, a biotechnology startup dedicated to bringing innovative medicines to patients in China and other major Asian markets, has entered into an agreement with US-based Bristol Myers Squibb (BMS), whereby BMS has obtained LianBio’s exclusive rights to develop and commercialise mavacamten in Mainland China, Hong Kong, Macau, Taiwan, Singapore and Thailand, in conjunction with termination of the exclusive license agreement LianBio previously entered into with MyoKardia, Inc., now a wholly owned subsidiary of BMS, in August 2020 to acquire such rights.

Under the terms of the agreement, LianBio will receive a one-time payment of $350 million. In addition, LianBio will be released from payment obligations of up to $127.5 million in remaining milestone payments under the MyoKardia license agreement.

In April 2023, the China National Medical Products Administration (NMPA) accepted with Priority Review a New Drug Application (NDA) for mavacamten for the treatment of adults with symptomatic obstructive hypertrophic cardiomyopathy (oHCM). LianBio received approval in Macau and Singapore for mavacamten for the treatment of adults with symptomatic oHCM in 2023.

BMS expects to offer employment to certain LianBio personnel working on the development and commercialisation of mavacamten.