San Diego-based Atrium Therapeutics (Nasdaq: RNA) has earned a second USD 15 million development milestone from Bristol Myers Squibb (NYSE: BMY) under their global cardiovascular RNA collaboration, triggered by delivery of a lead compound targeting an undisclosed cardiology indication. The payment, announced August 13, marks the second such milestone in less than four months — Atrium collected the first USD 15 million in April 2026 — and confirms BMS is actively advancing programs rather than holding optionality.
The collaboration covers discovery, development, and commercialization of RNA-based therapies across multiple cardiovascular indications. Atrium is eligible for up to USD 1.35 billion in research and development milestone payments and up to USD 825 million in commercial milestones. BMS funds all clinical, regulatory, and commercialization activities.
Atrium was spun out of Avidity Biosciences in February 2026 following Novartis's USD 12 billion acquisition of Avidity, with roughly USD 270 million in cash and the cardiovascular RNA programs Novartis did not retain. The BMS collaboration transferred with the spinoff. Atrium's platform, described by the company as designed at Avidity, combines monoclonal antibody-based tissue targeting with oligonucleotide precision to deliver small interfering RNA (siRNA) selectively to cardiac tissue.