Bristol Myers Squibb is investing at least $3.5 billion to co-develop the bispecific antibody BNT327 with BioNTech. The partnership joins a crowded field of treatments targeting checkpoint protein PD-L1 and blood vessel regulator VEGF-A.
The deal, valued at $7.6 billion, includes upfront payments of $1.5 billion and up to $2 billion more in noncontingent payments. BMS will also contribute up to $7.6 billion in milestones for the successful development and commercialization of BNT327.
The partnership aligns with Bristol Myers Squibb’s goal of accelerating succession planning for its Opdivo treatment, according to analysts at BMO Capital Markets. The deal is seen as a positive for BioNTech, providing access to global distribution and experience in managing development programs.
BNT327 has shown promising results in Phase II trials, with data released earlier this year from a small cell lung cancer trial showing a median overall survival of 16.8 months. The treatment is currently in Phase III trials for two types of lung cancer and will soon begin a trial for triple-negative breast cancer.
Under the terms of the agreement, BMS and BioNTech can develop BNT327 as monotherapy or in combination with other products. They retain the right to combine the molecule with their own proprietary drugs, including BioNTech’s antibody-drug conjugate (ADC) candidates.
Source: https://www.biospace.com/deals/bms-commits-up-to-11b-to-work-with-biontech-on-solid-tumor-bispecific