Bristol-Myers Squibb and Johnson & Johnson group Janssen have announced a deal to work together on a Factor XIa (FXIa) inhibitor programme, aiming to reduce the risk of vascular events without increasing the risk of bleeding in patients with thrombotic disorders.

The collaboration will include development and commercialisation of BMS’ blood thinner BMS-986177 for both prevention and treatment of major thrombotic conditions.

The parties intend to advance BMS-986177 to mid-stage development in the second half of this year for the study of secondary stroke prevention, and well as establish a broad FXIa inhibition development programme spanning multiple indications.

“By combining the strength of our companies’ extensive expertise in the development and commercialisation of cardiovascular treatments, we can maximise the potential of FXIa inhibition,” said Tom Lynch, executive vice president and chief scientific officer at BMS, commenting on the collaboration.

Specific financial details of the deal were not disclosed, only that Janssen will pay BMS an upfront sum along with potential development and regulatory milestone payments, and the that development costs and commercial profits and losses will be shared.