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