Bristol Myers Squibb Enters $1B+ Licensing Agreement with Tubulis to Develop Differentiated Antibody-Drug Conjugates for Solid Tumors

Intelligent Finance APP learned that Bristol-Myers Squibb (BMY.US) signed a licensing agreement with Tubulis GmbH to develop differentiated antibody-drug conjugates (ADCs) for cancer treatment. According to the agreement, Tubulis will receive an upfront payment of $22.75 million and is eligible to receive over $1 billion in development, regulatory, and commercial milestone payments, as well as sales royalties.

Bristol-Myers Squibb will obtain the exclusive rights to Tubulis' Tubutecan payload and Tubulis' P5 conjugation platform to develop a selected number of differentiated ADCs for the treatment of solid tumors.

After Bristol-Myers Squibb selects the antibody, Tubulis will provide its linker payload to generate a uniquely matched ADC for each antibody. Bristol-Myers Squibb will be fully responsible for the development, manufacturing, and commercialization of the ADC candidates.

"ADCs play a promising role in cancer treatment, and Tubulis' differentiated technology provides a significant opportunity to overcome the challenges currently faced in developing safe and effective ADC therapies," said Emma Lees, Senior Vice President of Research and Early Development at Bristol-Myers Squibb.