BioNTech, Bristol Myers Ink Strategic Partnership To Co-Develop BNT327 For Several Solid Tumor Type

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(RTTNews) - Immunotherapy company BioNTech SE (BNTX) and Bristol Myers Squibb (BMY) announced Monday they have entered into an agreement for the global co-development and co-commercialization of BioNTech's investigational bispecific antibody BNT327 across numerous solid tumor types.

Under the agreement, BioNTech and Bristol Myers will work jointly to broaden and accelerate the development of this clinical candidate.

BioNTech's BNT327, a next-generation bispecific antibody candidate targeting PD-L1 and VEGF-A, is currently being evaluated in multiple ongoing trials with more than 1,000 patients treated to date. These include, global Phase 3 trials with registrational potential evaluating BNT327 as first-line treatment in extensive stage small cell lung cancer and non-small cell lung cancer.

A global Phase 3 trial evaluating the candidate in triple negative breast cancer is planned to start by the end of 2025. Preliminary data from ongoing trials underscore the potential for combining anti-PD-L1 and anti-VEGF-A - two well-established therapeutic targets - into a single molecule to deliver synergistic clinical benefits for patients across multiple tumor types.

Under the terms of the agreement, the companies will jointly develop and commercialize BNT327, including the development of BNT327 as monotherapy and in combination with other products. Both companies have the right to independently develop BNT327 in further indications and combinations, including combinations of BNT327 with proprietary pipeline assets.

Bristol Myers will pay BioNTech $1.5 billion in an upfront payment and $2 billion total in non-contingent anniversary payments through 2028. These tax-deductible charges will be recorded as Acquired IPR&D Expense when incurred, with the $1.5 billion being incurred in the second quarter.

In addition, BioNTech will be eligible to receive up to $7.6 billion in additional development, regulatory and commercial milestones.

BioNTech and Bristol Myers will share joint development and manufacturing costs on a 50:50 basis, subject to certain exceptions. Global profits/losses will be equally shared between BioNTech and Bristol Myers.