Bristol-Myers Squibb Acquires Option To Buy F-star Alpha, FS102 For HER2 Cancers

By Cyndi Root

Bristol-Myers Squibb Company (BMS) may opt to buy F-star Alpha and its lead HER2 oncology candidate, FS102. The exclusive option to acquire F-star Alpha and its assets was announced in a press release, which disclosed that the aggregate deal is worth $475 million. FS102 is a Human Epidermal growth factor Receptor 2 (HER2)-targeted therapy in Phase I studies. BMS expects to make a decision on the acquisition option following the initiation of Phase 2 studies.

Francis Cuss, EVP and CSO at BMS, said, “This agreement is consistent with our R&D strategy to develop promising treatments that address areas of high unmet medical need and provides the opportunity to complement our oncology portfolio with a novel targeted therapy.”

BMS, F-star Alpha Agreement

BMS has agreed to finance its acquisition option and remunerate F-Star Alpha for licensing and milestone payments with payments equaling $50 million. BMS intends to fund FS102 development during the option period. The two companies have further defined their relationship according to the progression of the agent through Phase 2 and 3 trials and regulatory approvals, with total compensation to F-Star Alpha reaching $475 million.

John Haurum, M.D., CEO at F-star also commented, “In addition to the important improvement of cancer therapy FS102 may provide to patients, this program also provides validation of the Modular Antibody Technology platform as a powerful engine to discover and rapidly develop novel targeted biologics.”

F-Star Alpha’s Modular Antibody Technology

F-star’s Modular Antibody Technology discovers and develops bispecific antibodies (mAb2). The technology engineers additional binding sites into the antibody, offering quick manufacturing of genuine bispecific antibody products with the positive characteristics of monoclonal antibodies. FS102 binds to a site on HER2, thereby inducing programmed cell death and eliminating tumors. The agent shows promise in overcoming drug resistance often found in HER2-positive patients.

Current Market For HER2 Treatments

The American Society of Clinical Oncology (ASCO) recently released guidance on treating women with advanced, HER2-positive breast cancer. The oncologists discuss treatments for women newly diagnosed and for women who have developed brain metastases. For newly diagnosed cancer, the experts recommend Genentech’s trastuzumab and pertuzumab as a first-line therapy. The second choice is T-DM1 (brand name Kadcyla), also a Genentech product.