BMS to Invest Over $900 Million to Co-Develop Potentially Best-in-Class SHP2 Inhibitor BBP-398 with BridgeBio

Today, BridgeBio Pharma announced that it has reached an agreement with Bristol-Myers Squibb to co-develop and commercialize the potential "best-in-class" SHP2 inhibitor BBP-398 in the field of oncology.

SHP2 is a protein tyrosine phosphatase that links growth factor, cytokine, and integrin signaling to the downstream RAS/MAPK signaling pathway, regulating cell proliferation and survival. Excessive SHP2 activity is a key factor in the development of various cancers, a mechanism of resistance to multiple targeted therapies, and can also suppress anti-tumor immune responses.

BBP-398 is an SHP2 inhibitor jointly developed by BridgeBio and MD Anderson Cancer Center. BridgeBio has partnered with LianBio to clinically develop and commercialize BBP-398 in China and other major Asian markets, in combination with other drugs for the treatment of solid tumors such as non-small cell lung cancer, colorectal cancer, and pancreatic cancer.

According to the agreement, BridgeBio will continue to lead the ongoing Phase 1 clinical trial, evaluating the efficacy of BBP-398 as a monotherapy or in combination with other therapies. Bristol-Myers Squibb will lead subsequent development and commercialization activities. BridgeBio will receive an upfront payment of $90 million and is eligible for up to $815 million in development, regulatory, and sales milestone payments.

"We are delighted to expand our collaboration with Bristol-Myers Squibb, and we believe this partnership will enable us to reach more patients with difficult-to-treat cancers. We believe our SHP2 inhibitor has 'best-in-class' potential," said Dr. Neil Kumar, founder and CEO of BridgeBio.

References:

[1] BridgeBio Announces Exclusive License Agreement with Bristol Myers Squibb to Develop and Commercialize BBP-398, a Potentially Best-in-Class SHP2 Inhibitor, in Oncology. Retrieved May 12, 2022, from https://bridgebio.com/news/bridgebio-announces-exclusive-license-agreement-with-bristol-myers-squibb-to-develop-and-commercialize-bbp-398-a-potentially-best-in-class-shp2-inhibitor-in-oncology/

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