LianBio announced that the company has entered into an agreement with Bristol Myers Squibb (BMS), whereby BMS has obtained LianBio?s exclusive rights to develop and commercialize mavacamten in Mainland China, Hong Kong, Macau, Taiwan, Singapore and Thailand, in conjunction with termination of the exclusive license agreement LianBio previously entered into with MyoKardia Inc., now a wholly owned subsidiary of BMS, in August 2020 to acquire such rights. Under the terms of the agreement, LianBio will receive a one-time payment of $350 million. In addition, LianBio will be released from payment obligations of up to $127.5 million in remaining milestone payments under the MyoKardia license agreement.

BMS expects to offer employment to certain LianBio personnel working on the development and commercialization of mavacamten. Centerview Partners LLC served as exclusive financial advisor to LianBio, and Jefferies LLC served as financial advisor to BMS.