Bristol-Myers Squibb has cancelled development of Medivir‘s preclinical HIV compound MIV-170. The compound did not meet the BMS’s desired profile, according to a Medivir statement. MIV-170 belongs to the group of polymerase inhibitors that Medivir already discontinued the development of and that are administered by the subsidiary Medivir HIV Franchise AB.

“Everyone is aware of the obvious risks in early pharmaceutical development. MIV-170 has not yet reached clinical development and statistically half of all pharmaceutical projects fail in this early pre clinical development phase. However, the license agreement with BMS has already provided Medivir with payments that by far exceed Medivir’s investments in the project” said professor Bo Oberg, chief executive officer of Medivir HIV Franchise AB.