On January 7, 2021 ArsenalBio, a privately held programmable cell therapy company, reported the formation of a multi-year discovery collaboration with Bristol Myers Squibb (NYSE:BMY) to advance next-generation T cell therapies for the treatment of solid tumors (Press release, Arsenal Bio, JAN 7, 2021, View Source [SID1234573659]). ArsenalBio will be responsible for discovering and building preclinical candidates against multiple targets, and Bristol Myers Squibb will have the option to obtain an exclusive worldwide license to develop and commercialize preclinical candidates. Following exercise of the option, Bristol Myers Squibb would be solely responsible for developing and commercializing the licensed candidates.
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Through the multi-year collaboration, ArsenalBio will deploy its full stack of synthetic biology compositions to build programmable cell therapy product candidates, composed of its PrimeR logic gates, CARchitecture derived gene expression controls, and CellFoundry mediated nonviral manufacturing. Combined, these integrated circuit-modified T cells offer the promise of improved outcomes for patients.
"Despite the therapeutic benefit of cell therapies for hematologic cancers, cell therapies for solid tumors remain an area of significant opportunity and unmet medical need," said Ken Drazan, MD, ArsenalBio’s co-founder and chief executive officer. "We are thrilled to team up with Bristol Myers Squibb to advance next-generation T cell therapies designed to serve patients and their providers. Their expertise and leadership in cell therapy and oncology drug development will help accelerate the pace with which we can move product candidates into and through clinical development and broaden our opportunity to help more patients and save more lives."
Under the terms of the agreement, Bristol Myers Squibb will make an upfront cash payment to ArsenalBio of $70 million, and ArsenalBio will be eligible to receive additional payments associated with collaboration expansion, regulatory and sales milestones, as well as potential royalties on sales of approved products. Bristol Myers Squibb will also make an investment in ArsenalBio for an undisclosed amount.