Bristol Myers inks two research collaborations

In what was a busy day for the US pharma major, two research collaborations with Bristol Myers Squibb (NYSE: BMY) were announced yesterday.

First, Autolus Therapeutics (Nasdaq: AUTL) revealed it has entered into a deal with BMS, granting the latter access to incorporate Autolus’ proprietary RQR8 safety switch into an initial set of selected cell therapy programs on a target-by-target basis for the treatment of cancer, with an option for BMS to incorporate the RQR8 safety switch in additional cell therapy programs beyond the initial set of selected programs. News of the accord pushed Autolus’ shares up nearly 26% to $2.74 by close of trading.

Under the terms of the agreement, Autolus will receive an undisclosed upfront payment for access to the RQR8 safety switch for the initial set of cell therapy programs with the potential for near term option exercise fees and development milestone payments. In addition, Autolus would be entitled to receive royalties on net sales of all BMS cell therapy products that incorporate the RQR8 safety switch. Autolus' switch helps manage toxicities - a crucial safety aspect for programmed cell therapies like CAR-Ts.