Bristol Myers punts up to $8.4 billion on another ADC candidate

Adding to the string of companies seeking to expand into the attractive antibody-drug conjugates (ADCs) space, Bristol Myers Squibb (NYSE: BMY) has announced an exclusive license and collaboration agreement for US clinical-stage biotech SystImmune’s BL-B01D1, a potentially first-in-class EGFRxHER3 bispecific ADC.

Under the terms of the agreement, the companies will jointly develop and commercialize BL-B01D1 in the USA. The deal adds to the Bristol Meyers’s ADC deal with Germany’s Tubulis in April, and its recent takeover bid for South Korea-based Orum Therapeutics and its ORM-6151 program.

Through its affiliates, SystImmune will be solely responsible for development, commercialization, and manufacturing in Mainland China and will be responsible for manufacturing certain drug supplies for use outside of Mainland China. Bristol Myers Squibb will assume sole responsibility for development and commercialization in the rest of the world.