BMS And CytomX Link Up On Immuno-Oncology Therapies R&D
Bristol-Myers Squibb and CytomX Therapeutics announced that the companies have entered a global research partnership and license agreement for the discovery, development, and marketing of new drugs against several immuno-oncology targets using CytomX’s Probody Platform.
Under the terms of the agreement, BMS will make an upfront payment of $50 million to CytomX and supply research funding. BMS will gain exclusive global rights to develop and market Probodies for up to 4 oncology targets. In addition to the upfront payment, CytomX will be eligible to receive preclinical payments and up to $298 million in future development, regulatory, and commercialization for each research collaboration target.
Francis Cuss, EVP and CSO at Bristol-Myers Squibb, said that immuno-oncology has the potential to transform cancer treatment. “The Probody Platform has the potential to broaden discovery of innovative therapies, and the collaboration with CytomX reflects our continued leadership in immuno-oncology.”
Probodies are selectively activated monoclonal antibodies within the cancer microenvironment. These focus the activity of therapeutic antibodies on tumors, leaving healthy tissue unaffected. Probodies can be used to expand validated and new therapeutic targets, and can open the door to new classes of safer and more effective therapies. The collaboration will include CTLA-4, a clinically validated immune inhibitory checkpoint receptor.
Sean McCarthy, CEO of CytomX, said, “This strategic alliance with Bristol-Myers Squibb demonstrates that our innovative Probody Platform has the potential to enable novel therapies in this transformational area of cancer research and development. This collaboration, together with our recently announced partnerships in the Probody Drug Conjugate space, illustrates the breadth of Probody technology and how we aim to make a difference in the lives of patients.” McCarthy said that CytomX anticipates working with Bristol-Myers Squibb for the development of highly differentiated Probody therapeutics.
The transaction is expected to close under customary conditions, including clearance from the art-Scott-Rodino Antitrust Improvements Act.