Tubulis Announces Strategic License Agreement with Bristol Myers Squibb to Develop Next Generation ADCs for the Treatment of Cancer Patients

Rhea-AI Summary

Bristol Myers Squibb (BMY) has entered into a strategic license agreement with Tubulis to develop differentiated antibody-drug conjugates (ADCs) for cancer treatment. BMY will pay Tubulis an upfront fee of $22.75 million, with potential milestone payments exceeding $1 billion and tiered royalties on net sales. This partnership allows BMY access to Tubulis’ proprietary P5 conjugation and Tubutecan platforms, enhancing their capability in ADC development. The agreement highlights BMY's focus on oncology and the therapeutic potential of ADCs, addressing the need for innovative cancer treatments. Tubulis aims to leverage its technologies to create ADCs that reduce unwanted side effects while effectively delivering therapies to solid tumors.

Positive

• BMY's strategic partnership with Tubulis enhances its oncology portfolio.
• The agreement includes an upfront payment of $22.75 million and milestone payments exceeding $1 billion.
• Access to Tubulis’ proprietary P5 conjugation and Tubutecan platforms will improve ADC development.

Negative

• None.

• Companies join forces bringing together Bristol Myers Squibb’s (BMS) deep oncology and clinical development expertise and Tubulis’ differentiated and unique approach to Antibody-Drug-Conjugate (ADC) design with the goal of delivering the true therapeutic potential of ADCs
• Tubulis to receive upfront payment of $22.75 million and milestone payments potentially totaling over $1 billion plus tiered royalties on net product sales
• BMS to obtain access to Tubulis’ proprietary P5 conjugation and Tubutecan platforms to develop versatile and customizable antibody-drug conjugates for cancer treatment

MUNICH--(BUSINESS WIRE)-- Tubulis and Bristol Myers Squibb (NYSE: BMY) today announced that they have entered into a strategic license agreement to develop differentiated antibody-drug conjugates (ADCs).

Through the license agreement, Bristol Myers Squibb will gain exclusive rights to access Tubulis’ Tubutecan payloads in combination with Tubulis’ proprietary P5 conjugation platform for the development of a selected number of highly differentiated ADCs to treat solid tumors. P5 and Tubutecans facilitate the generation of ultra-stable ADCs that have the potential to actively reduce unwanted target-independent toxicities and are optimized for on-target delivery of potent topoisomerase-1 inhibitors.

The terms of the agreement include an upfront payment of $22.75 million to Tubulis in addition to the potential for over $1 billion in development, regulatory, and commercial milestone payments plus royalty payments on resulting marketed products. Following antibody target selection by Bristol Myers Squibb, Tubulis will provide the company with its linker-payload to generate a uniquely matched ADC for each antibody. Bristol Myers Squibb will assume sole responsibility for development, manufacturing, and commercialization of the resulting ADC candidates.

“This strategic agreement with Bristol Myers Squibb is an important validation of the potential of our approach in developing next-generation ADC-based therapeutics and our cutting-edge ADC conjugation technologies that accommodate advanced ADC design to tackle tumors with high-unmet medical need,” said Dominik Schumacher, PhD, CEO and co-founder of Tubulis. “We are committed to transforming oncology treatment paradigms and to deliver better outcomes for cancer patients. Joining forces with BMS, a leading global oncology company, is a significant step towards achieving that goal.”

“ADCs play a promising role in cancer therapy, and Tubulis’ differentiated technologies offer opportunities to overcome current challenges in the development of safe and effective ADC therapeutics,” said Emma Lees, PhD, Senior Vice President, Research and Early Development and Head, Mechanisms of Cancer Resistance Thematic Research Center at Bristol Myers Squibb.

“With the P5 platform, we will be able to pair the right antibody with the right payload and thus provide potential for meaningful therapeutic benefits for patients with solid tumors. We are looking forward to a fruitful partnership with the Tubulis team.”

About Tubulis
Tubulis generates uniquely matched protein-drug conjugates through the combination of novel proprietary technologies and disease-specific biologic insight. Our goal is to expand the therapeutic potential of antibody-drug conjugates (ADCs) by increasing design flexibility while overcoming constraints of toxicity, efficacy and indication. Tubulis will build new conjugates to fill its growing pipeline and will continue to collaborate with industry partners to usher in a new ADC era and deliver better outcomes for patients. Visit www.tubulis.com or follow us on LinkedIn and Twitter.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230420005060/en/

For Tubulis

Dominik Schumacher, CEO & Co-Founder

Phone: + 49 (0) 175 8005594

Email: contact@tubulis.com

Media Requests for Tubulis

Trophic Communications

Stephanie May or Marie Weickert

Phone: +49 (0) 171 1855682

Email: tubulis@trophic.eu

Source: Tubulis

FAQ

What is the strategic partnership between BMY and Tubulis about?

BMY and Tubulis have formed a license agreement to develop differentiated antibody-drug conjugates for cancer treatment.

What are the financial terms of the agreement between BMY and Tubulis?

BMY will pay Tubulis an upfront fee of $22.75 million, with potential milestone payments exceeding $1 billion.

How does the partnership benefit BMY in terms of cancer treatment?

The partnership allows BMY access to Tubulis' advanced technologies for developing more effective and safer cancer therapies.

What platforms does BMY gain access to through its agreement with Tubulis?

BMY gains access to Tubulis’ proprietary P5 conjugation and Tubutecan platforms for ADC development.

What is the main goal of the collaboration between BMY and Tubulis?

The main goal is to deliver innovative antibody-drug conjugates with improved therapeutic outcomes for patients with solid tumors.