BMS dives into the immunooncology fray with CytomX collaboration
- Bristol-Myers Squibb has entered a collaborative relationship with CytomX to develop immunooncology therapies.
- BMS paid $50 million up front and will fund research, as well as royalty fees. In exchange for worldwide commercialization rights.
- Several large companies, including Pfizer, Merck, Roche and AstraZeneca have been working to develop immunooncologic therapies.
The deal involves a $50 million up-front payment, as well as research funding and royalty payments. All told, CytomX could earn $1.2 billion in exchange for its collaboration with BMS. BMS will retain all development and commercialization rights.
CytomX is already collaborating with Pfizer and Immunogen on similar research. Other pharma companies, such as AstraZeneca and Merck, are also involved in immunooncology research. In fact, this year’s ASCO meeting in Chicago in June will feature hundreds of abstracts highlighting data from research in this area.
- pharmafile.com BMS signs cancer deal