Eisai and Bristol Myers strike $3 billion ADC deal

Japanese drug major Eisai’s (TYO: 4523) shares closed up 6% at 12.075 yen today, as it revealed an exclusive global agreement with the USA’s Bristol Myers Squibb (NYSE: BMY) for the co-development and co-commercialization of MORAb-202, an antibody drug conjugate (ADC), that could earn the company more than $3 billion.

MORAb-202 is Eisai’s first ADC and combines Eisai’s in house developed anti-folate receptor alpha (FRα) antibody, and Eisai’s anticancer agent eribulin, using an enzyme cleavable linker. It is a potential best-in-class FRα ADC with a favorable pharmacology profile and demonstrated single agent activity in patients with advanced solid tumors. Eisai is currently investigating MORAb-202 in FRα-positive solid tumors (inclusive of endometrial, ovarian, lung and breast cancers) in two studies: a Phase I clinical study in Japan and a Phase I/II clinical study in the USA. The companies are planning to move into the registrational stage of development for this asset as early as next year.

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