Bristol-Myers and Celldex to evaluate nivolumab and varlilumab combo

14 May 2014

US drug major Bristol-Myers Squibb (NYSE: BMY) and biotech firm Celldex Therapeutics (Nasdaq: CLDX) have entered into a clinical trial collaboration to evaluate the safety, tolerability and preliminary efficacy of nivolumab, Bristol-Myers Squibb’s investigational PD-1 immune checkpoint inhibitor, and varlilumab, Celldex’ CD27 targeting investigational antibody in a Phase I/II study.

Multiple tumor types will be explored in the study, which could potentially include non-small cell lung cancer (NSCLC), metastatic melanoma, ovarian, colorectal (CRC) and squamous cell head and neck cancers. Celldex’ shares gained 7.9% to $13.38 in mid-morning trading on news of the deal.

Under the terms of this accord, B-MS will make a one-time payment of $5 million to Celldex and the companies will share development costs. Celldex will be responsible for conducting the Ph I/II study, which is expected to begin in the fourth quarter of 2014.

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