Drugmaker Bristol-Myers Squibb Co. and Asterand PLC are extending a research collaboration for up to three years, Asterand said Monday.
Asterand, with offices in Detroit and the United Kingdom, will continue to provide drug discovery services and human tissue and clinical samples to Bristol-Myers Squibb. The tissue and samples will be used in research on potential drugs. The companies entered a three-year partnership in May 2007.
Financial terms weren't disclosed.
In morning trading, shares of Bristol-Myers Squibb rose 26 cents to $24.72. Earlier, the New York company's stock set an annual high of $24.78.