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Molecular Templates signs cancer deal with BMS worth up to $1.3bn

Published on 15/02/21 at 09:38am

Molecular Templates and Bristol Myers Squibb have entered into a worldwide strategic research collaboration worth up to $1.3 billion, to discover and develop multiple novel therapies designed for specific oncology targets.

The collaboration will seek to discover new molecules utilising Molecular Template’s next-generation engineered toxin body (ETB) platform. ETBs represent a new class of targeted therapeutics that act through differentiated mechanisms of actions, including the ability to force receptor internalisation, deliver therapeutic payloads, and directly kill targeted cells through the enzymatic inactivation of ribosomes.

Under the terms of the deal, Molecular Templates will conduct research activities for the discovery of next generation ETBs for multiple targets, of which the first target has been selected by Bristol Myers Squibb. Bristol Myers Squibb will have the option to obtain an exclusive worldwide licence to develop and commercialise ETBs directed to each selected target, making them solely responsible for development and commercialising activities.

Bristol Myers Squibb will make an up-front payment of $70 million to Molecular Templates, who is also eligible to receive near-term and development, regulatory, and sales milestone payments of up to approximately $1.3 billion, as well as tiered royalty payments on future sales.

Eric Poma, Molecular Templates’ CEO and Scientific Officer, said: “Bristol Myers Squibb is a leading global pharmaceutical company with a strong oncology franchise and a history of innovation, making them an ideal partner for the discovery and development of novel ETBs for the treatment of cancer.

“MTEM is excited to be working with Bristol Myers Squibb to focus on discovering and developing new ETBs against promising oncology targets. This collaboration provides further validation of our ETB platform while we continue to advance our wholly-owned product pipeline to offer promising therapeutic options for patients.”

Darcy Jimenez

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