Bristol-Myers Squibb Joins Forces with BioNTech in $11 Billion Cancer Drug Collaboration

Published 1 days agoBMY

Bristol-Myers Squibb Joins Forces with BioNTech in $11 Billion Cancer Drug Collaboration

Bristol-Myers Squibb (BMS) has struck a major partnership with BioNTech SE to develop and market BNT327, an emerging drug aimed at cancer treatment. As part of this deal, BMS will make an initial payment of $1.5 billion to BioNTech. Reuters reported that this expansive agreement could potentially reach a total value of approximately $11 billion.

Further details reveal that BMS may provide up to $2 billion in non-contingent anniversary payments by 2028, while BioNTech stands to receive up to $7.6 billion tied to milestone achievements in the drug's development. The focal point of this deal, BNT327, is a bispecific antibody that targets PD-L1 and VEGF-A proteins to boost the immune system's ability to detect tumors and slow their progression. The drug is currently being tested in more than 20 clinical trials, including two late-stage studies focused on various solid tumors.

This collaboration with BioNTech is part of BMS's broader strategy to enhance its oncology portfolio, especially as patents for existing bestsellers like Opdivo and Eliquis near expiration. Meanwhile, BioNTech leverages its COVID-19 vaccine success to advance oncology treatments, including mRNA-based therapies and cutting-edge chemotherapy techniques. Such partnerships reflect a wider industry trend towards joint efforts in developing advanced cancer therapies.

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