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.

The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.