Atrium Therapeutics, Inc. a biopharmaceutical company dedicated to delivering RNA therapeutics directly to the heart, announced today it has earned a $15 million development milestone payment from Bristol Myers Squibb (NYSE: BMY). The milestone was achieved upon the successful delivery of a development candidate for the first licensed compound targeting a cardiology indication under the Company's ongoing collaboration.

"This milestone marks a meaningful step forward for Atrium, further expanding our RNA delivery platform and our ability to generate high quality cardiology development candidates," said Kathleen Gallagher, President and Chief Executive Officer of Atrium Therapeutics. "The successful advancement of this first development candidate reflects the strength of our science, the productivity of our collaboration with Bristol Myers Squibb, and our shared commitment to deliver transformative therapies for patients with cardiac disease."

The payment is pursuant to Atrium's global licensing and research collaboration with Bristol Myers Squibb focused on the discovery, development and commercialization of innovative RNA-based therapies for multiple cardiovascular indications.

Under the terms of the agreement, Atrium is eligible to receive up to approximately $1.35 billion in research and development milestone payments, up to approximately $825 million in commercial milestone payments, and tiered royalties up to low double-digits on net sales. Bristol Myers Squibb will fund all future clinical development, regulatory and commercialization activities coming from the collaboration.