Bristol-Myers Squibb (BMS) is an American multinational pharmaceutical company, headquartered in New York City, develops and market innovative medicines for various disorders. BMS in its present form was formed in 1989, following the merger of its predecessors Bristol-Myers and the Squibb Corporation.
- In May 2021, Bristol Myers Squibb acquired a global exclusive license to Agenus Inc. (NASDAQ: AGEN) proprietary bispecific antibody program, AGEN1777, that blocks TIGIT and a second undisclosed target. Under the terms, Agenus received $200 Mn in upfront payment and up to $1.36 billion in development, regulatory and commercial milestones in addition to tiered double-digit royalties on net product sales.
- In May 2021, Exscientia, Artificial Intelligence (AI)-driven company, entered into a collaboration with BMS to use its AI drug discovery platform to accelerate the discovery of small molecule therapeutic drug candidates in multiple therapeutic areas, including oncology & immunology. The agreement includes up to $50 Mn in upfront funding, up to $125 Mn in near to mid-term potential milestones, and additional clinical, regulatory and commercial payments that take the potential value of the deal beyond $1.2 billion. Exscientia will also receive tiered royalties on net sales of any marketed drug products resulting from the collaboration.
- In Feb 2021, Molecular Templates, Inc. (Nasdaq: MTEM) established Multi-Target collaboration with Bristol Myers Squibb for the discovery and development of next generation Engineered Toxin Bodies for the treatment of cancer, utilizing MTEM’s next generation engineered toxin body (ETB) platform. Under the terms, BMS make an up-front payment of $70 Mn to MTEM. MTEM is also eligible to receive near-term and development, regulatory and sales milestone payments of up to approximately $1.3 billion as well as tiered royalty payments on future sales.
- In Jan 2021, ArsenalBio Inc., a privately held programmable cell therapy company, signed a multi-year discovery collaboration with BMS to advance next-generation T cell therapies for the treatment of solid tumors. Under the terms, ArsenalBio will be responsible for discovering and building preclinical candidates against multiple targets, and Bristol Myers Squibb will have the option to obtain an exclusive worldwide license to develop and commercialize preclinical candidates. BMS paid an upfront cash payment of $70 Mn and ArsenalBio will be eligible to receive additional payments associated with collaboration expansion, regulatory and sales milestones, as well as potential royalties on sales of approved products. BMS will also make an investment in ArsenalBio for an undisclosed amount.
- In Dec 2020, Nimbus Therapeutics, regained the worldwide rights to its HPK1 inhibitor program from Bristol Myers Squibb. Under Nimbus’ agreement with Celgene, held an option to acquire the HPK1 inhibitor program. As part of its Celgene integration process, BMS made the decision to decline this option.
- In Aug 2020, BMS acquired global exclusive license to Dragonfly Therapeutics’ interleukin-12 (IL-12) program, including its extended half-life cytokine DF6002. DF6002 is a monovalent IL-12 immunoglobulin Fc fusion protein proposed to achieve strong anti-tumor efficacy by establishing an inflammatory tumor microenvironment necessary for productive anti-tumor responses. Under the terms, BMS will become responsible for the development and commercialization of DF6002 and its related products worldwide. Dragonfly received $475 Mn in upfront and is eligible to receive performance-based development, regulatory and commercial milestone payments and shall be eligible to receive up to 24% royalties on worldwide net sales.
- In May 2020, Bristol Myers Squibb signed an exclusive, worldwide research collaboration with Repare Therapeutics to leverage Repare’s proprietary SNIPRx®, to jointly identify multiple synthetic lethal precision oncology targets for drug candidates. Repare will grant BMS exclusive worldwide rights to develop and commercialize therapeutics for select validated synthetic lethal precision oncology targets discovered under the collaboration. BMS make an upfront payment of $65 Mn including a $15 Mn equity investment in Repare. Also, Repare will be eligible to receive up to approx. $3 billion in license fees, discovery, development, regulatory and sales-based milestones, in addition to royalty payments on net sales of each product commercialized by BMS.
- In May 2020, bluebird bio amended its existing co-promotion/co-development agreement with Bristol Myers Squibb (BMS) on efficient commercialization of idecabtagene vicleucel (ide-cel; bb2121). Under the new terms, BMS buy out its obligations to pay bluebird bio future ex-U.S. milestone and royalty payments for ide-cel and bb21217, for a one-time upfront payment of $200 Mn. Also, Bristol Myers Squibb assumes responsibility for vector manufacturing in ex-US territories. The companies will continue to share equally profits and losses in the U.S.
- In Mar 2018, bluebird bio and Celgene (now part of BMS) entered into an agreement to co-develop and co-promote bb2121, an investigational anti-B-cell maturation antigen (BCMA) chimeric antigen receptor (CAR) T cell therapy for the potential treatment of patients with relapsed/refractory multiple myeloma in the United States. Under the terms, bluebird and Celgene to share 50% of U.S. costs and profits and bluebird to receive milestones and royalties on ex-U.S. sales.
- In Aug 2019, Celgene, a Bristol-Myers Squibb Company, secures an exclusive options to Immatics Therapeutics’ three TCR-T targets. Under the terms, Immatics received $75 Mn in upfront payment and may be eligible for future opt-in exercise, milestone and royalty, also Immatics retains options to Co-develop or co-fund certain licensed products.
- In Dec 2018, Bristol-Myers Squibb, Eisai Co., Ltd and H3 Biomedicine signed multi-year research collaboration utilizing H3’s RNA splicing platform. Under the terms of the multi-year agreement, H3 and BMS will jointly conduct the research focused on developing immune therapies using H3’s RNA splicing platform. BMS will be responsible for development and commercialization of selected compounds, and H3 is eligible to receive an upfront payment, development, regulatory and sales milestones as well as certain royalties according to sales revenue after launch.
- In Feb 2018, Sirenas Marine Discovery LLC entered into a multi-target research agreement with Bristol-Myers Squibb to deploy Sirenas’ drug discovery platform to identify potential drug candidates against undisclosed therapeutic targets. Under the terms, Sirenas will receive an undisclosed up-front payment, funding for research activities and potential success fees from BMS. In addition, BMS, has an option to license compounds identified from the collaborative efforts under a separate agreement that will include potential milestones and royalties paid to Sirenas.
- In Feb 2018, Nektar and Bristol-Myers Squibb entered into a global development and commercialization agreement to evaluate the full potential of bempegaldesleukin plus Opdivo® (nivolumab). The agreement includes 7 indications in 4 tumor types including melanoma, renal cell carcinoma, non-small cell lung cancer and bladder cancer.
- In Dec 2017, Bristol-Myers Squibb acquired an exclusive license for the development and commercialization of ONO-4578/BMS- 986310, Ono’s selective Prostaglandin E2 (PGE2) receptor 4 (EP4) antagonist. Under the terms, BMS paid $40 Mn as an upfront payment and will be solely responsible for the development, manufacturing and commercialization of ONO-4578 as well as other PGE2 receptor antagonist products in all countries of the world except Japan, South Korea, Taiwan, China and Association of Southeast Asian Nations (ASEAN) countries, where ONO holds the commercialization rights.
- In Dec 2017, Ayala Pharmaceuticals Inc. acquired an exclusive worldwide development and commercialization rights for BMS-906024 and BMS-986115, two gamma secretase inhibitors from Bristol-Myers Squibb, as a Notch inhibitor for oncology indications. In connection with the license, BMS received an upfront payment, became a shareholder of Ayala, and is eligible to receive certain development, regulatory, and sales-based milestones, as well as tiered annual net sales royalties. Ayala is responsible for all future development and commercialization of BMS-906024 and BMS-986115.
- In July 2017, BeiGene entered into a strategic collaboration with Celgene (now part of BMS) to develop and commercialize Bei- Gene’s investigational anti-programmed cell death protein 1 (PD-1) inhibitor, Tislelizumab/ BGB-A317, for patients with solid tumor cancers in the United States, Europe, Japan and rest of world outside Asia. BeiGene will retain exclusive rights for the development and commercialization of BGB-A317 for hematological malignancies globally and for solid tumors in Asia (with the exception of Japan). Under the terms, BeiGene received an upfront licensing fees totaling $263 Mn; and $150 Mn in equity investment representing 5.9 % equity stake in BeiGene. BeiGene is also eligible to receive up to $980 Mn in development, regulatory and sales milestone payments and royalties on future sales of BGB-A317. BeiGene also acquired Celgene’s commercial operations in China and exclusive license to Celgene’s China cancer commercial portfolio (ABRAXANE®, REVLIMID®, VIDAZA®)
- In Dec 2016, PsiOxus signed an agreement granting Bristol-Myers Squibb an exclusive worldwide rights to NG-348, a solid tumor targeting oncolytic virus therapy. Under the terms, BMS paid PsiOxus a $50 Mn upfront payment and will be solely responsible for global clinical development and commercialization activities related to NG-348. PsiOxus is also eligible to receive up to $886 Mn in development, regulatory and sales-based milestones, as well as royalties on net sales. BMS also funds the preclinical development of NG-348. In Dec 2017, PsiOxus recieved $15 Mn as milestone payment from BMS on the approval of Clinical Trial Application for NG-348.
- In May 2015, Juno Therapeutics (now part of BMS) and Editas signs an exclusive collaboration to create autologous Next-Generation CAR T and TCR Cell therapies to treat cancer. Under the terms, companies to pursue three research programs together utilizing Editas’ genome editing technologies, including CRISPR/Cas9, with Juno’s CAR and TCR technologies. Editas received an upfront of $25 Mn and up to $22 Mn in research support over the next five years across the three programs in the alliance. Editas is also eligible to receive in excess of $230 Mn for each program in various milestones, alongwith tiered royalties on sales. Presently, Editas collaborates with BMS to advance alpha-beta T cell medicines for the treatment of both solid and liquid tumors.
- In Nov 2014, Galecto Biotech AB and Bristol-Myers Squibb entered into an agreement that provides BMS an exclusive option to acquire Galecto Biotech AB going forward. BMS also gains worldwide rights to its lead asset TD139 in total aggregate amount to reach $444 Mn which includes an option fee and subsequent clinical and regulatory milestone payments.
- In 2014, FORMA Therapeutics and Celgene (now BMS), signed R&D partnership to pursue ground-breaking medicines in oncology and other therapeutic areas. Currently BMS is advancing FORMA-discovered, pan BET inhibitor CC-95775 in Phase 1B clinical trial in patients with advance solid tumors.
- In May 2014, Bristol-Myers Squibb and CytomX Therapeutics announce Worldwide collaboration to develop Probody™ Therapeutics against multiple Immuno-Oncology targets. BMS paid $200 Mn as an upfront payment and, in addition, will provide research funding over the course of the research term. CytomX will also be eligible to receive up to $448 Mn in future development, regulatory and sales milestone payments for each collaboration target, as well as tiered royalties from the mid-single digits to low-double digits on net sales of each product commercialized by Bristol-Myers Squibb. Presently BMS-986249 and BMS-986288 are in clinical development under this program.
- In Mar 2014, Five Prime Therapeutics and BMS signed a collaboration agreement for the discovery, development and commercialization of immuno-oncology therapies directed toward targets identified in two undisclosed immune checkpoint pathways using Five Prime’s proprietary target discovery platform. Presently through this program, TIM-3 antibody BMS-986258, which is now in a Phase 1/2 trial is in active development.
- In Mar 2014, BMS and Bavarian Nordic signed an agreement that provides BMS an exclusive option to license and commercialize Bavarian’s Phase 3 PROSTVAC®, prostate-specific antigen targeting cancer immunotherapy. Under the terms, Bavarian Nordic received an upfront payment of $60 Mn and could receive regulatory milestone payments of $110 Mn and up to $495 Mn in sales milestones. Also Bavarian Nordic will undertake the future commercial manufacturing of PROSTVAC.
- It is in collaboration with ImClone for the manufacturing and marketing of Cetuximab/Erbitux®, exclusively in North America.
- Ono Pharmaceuticals entered into collaboration research agreement with BMS to develop and commercialize Opdivo /ONO-4538/BMS-936558. Under the agreement Ono retains Japan, Korea and Taiwan development and marketing rights while rest of the world rights are with BMS. Check Ono Pharmaceutical for Details.
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