Bristol Myers Squibb Secures Global License to Dragonfly’s IL-12 Immunotherapy DF6002 with $475 Million Upfront Payment

Today, Bristol-Myers Squibb (BMS) and Dragonfly Therapeutics announced that they have entered into a collaboration agreement, under which Bristol-Myers Squibb will obtain the exclusive global license to DF6002, an investigational interleukin-12 (IL-12)-based immunotherapy developed by Dragonfly. DF6002 is a monovalent IL-12 cytokine-Fc fusion protein with an extended half-life. It may achieve potent antitumor effects by establishing an inflammatory tumor microenvironment necessary for generating antitumor responses.

Under the agreement, Bristol-Myers Squibb will be responsible for the global development and any subsequent commercialization of DF6002 and related products. Dragonfly will receive an upfront payment of $475 million and is eligible for subsequent milestone payments as well as royalties on future product sales.

Immune checkpoint inhibitors, represented by PD-1/PD-L1 inhibitors, have demonstrated favorable efficacy in the treatment of various cancers. However, a significant number of cancer patients still exhibit poor response to these therapies. Consequently, one of the key research focuses in the industry is the development of innovative drugs capable of enhancing the efficacy of checkpoint inhibitors and expanding their indications.

DF6002 is an IL-12 cytokine fusion protein with an extended half-life, developed by Dragonfly. Its Investigational New Drug (IND) application was approved by the U.S. FDA in May this year. Phase 1/2 clinical trials in patients with advanced solid tumors have been initiated. Bristol-Myers Squibb plans to further advance the development of DF6002 in the fields of oncology and hematology.

References:

[1] Dragonfly Therapeutics and Bristol Myers Squibb Announce Exclusive Global License for Dragonfly’s IL-12 Investigational Immunotherapy Program. Retrieved August 17, 2020, from https://news.bms.com/press-release/corporatefinancial-news/dragonfly-therapeutics-and-bristol-myers-squibb-announce-exclu

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