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Bristol Myers Squibb invests $1.5 billion upfront to co-develop BioNTech’s experimental bispecific cancer antibody

Profit sharing is evenly split with milestone payments tied to clinical progress of the PD-L1/VEGF-A targeted therapy

Test tubes are seen in front of a displayed Bristol Myers Squibb logo in this illustration taken, May 21, 2021. REUTERS/Dado Ruvic/Illustration
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Overview

  • Bristol Myers Squibb will pay $1.5 billion upfront and could pay up to $2 billion in non-contingent anniversary payments through 2028
  • BioNTech may earn up to $7.6 billion in development, regulatory and commercial milestones, bringing total deal value to more than $11 billion
  • The companies will share global profits and losses equally and split joint development and manufacturing costs 50/50
  • BNT327 is a next-generation bispecific antibody designed to simultaneously target PD-L1 and VEGF-A to enhance anticancer immune responses
  • The experimental therapy has been administered to over 1,000 patients and is being tested as a first-line treatment in extensive-stage small cell and non-small cell lung cancers