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BRIEF-Tekmira Pharmaceuticals in multi-year agreement with Bristol-Myers Squibb


May 10 (Reuters) - Tekmira Pharmaceuticals Corp: * Announces multi-year agreement with Bristol-Myers Squibb * Says BMS will have a first right to negotiate a licensing agreement on certain RNAi products developed by Tekmira * Says deal provides BMS with opportunity to validate function of targets using Tekmira SNALP formulations * Bristol-Myers Squibb to use small interfering RNA molecules formulated by co in stable nucleic acid-lipid particles * Says Bristol-Myers Squibb will pay Tekmira US$3.0 million concurrent with the signing of the agreement. * Remains on track with its second product candidate, PLK1 SNALP, to file an investigational new drug application * Says to initiate a phase 1 human clinical trial in the second half of 2010 ((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780)) (For more news, please click here) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved.

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