Bristol Myers Squibb (BMS) has terminated its antibody-drug conjugate (ADC) deal with Eisai, which initially involved a $650 million upfront payment in 2021. This decision is part of BMS's portfolio prioritization efforts. The cancellation of this partnership could have broader implications for other companies in the sector, such as Sutro Biopharma ($STRO).
"Back in 2015, Bristol Myers sued its former immuno-oncology exec David Berman for taking a competing job at AstraZeneca. According to the lawsuit at that time, Berman’s noncompete clause included a 12-month stay before he could work at a competitor" https://t.co/M2QTKlDisb
Eisai and Bristol Myers cancel cancer ADC deal https://t.co/y6tMBBPg81 $BMY $ESAIY @ByJonGardner
Eli Lilly Puts $1B on the Line to Expand its Cancer Radiopharmaceuticals Prospects https://t.co/Zlv7xFWkkP
Merck & Co. is expanding a research partnership with Orion into an exclusive licensing pact, putting more than $1.6 billion biobucks on the table for cancer candidates targeting CYP11A1. https://t.co/w0Px0NEaiu
Eisai and Bristol Myers cancel cancer ADC deal https://t.co/uxbdg88flm @ByJonGardner $BMY $ESALY
Why termination of $BMY's $ESALY folate receptor ADC deal could spell bad news for $STRO, via @ApexOnco -> https://t.co/oLfNj7Fk7G $ABBV $GMAB
Radionetics Oncology Enters Strategic Agreement With Lilly; Receives $140M Upfront Payment; Lilly Gains Exclusive Right To Acquire Radionetics For $1B $LLY
Radionetics Oncology Enters Into Strategic Agreement With Lilly https://t.co/4KOG3bwoos https://t.co/Qv681NZQOz
No way, who would have thought $BMY $ESALY https://t.co/1YQni3DfhA https://t.co/1CDleLnGlY
Today we announced that we’ve exercised our option to convert our ongoing co-development and co-commercialization agreement with Orion Corporation into an exclusive global license. Learn more: https://t.co/9R6YV5nLS3 https://t.co/cjdP3RE5NK
$BMY axes another big alliance -- sayonara $650M https://t.co/R9UnGQLgO9
Dreaded “portfolio prioritisation” at BMS sees end to ADC deal with Eisai. Bristol Myers Squibb paid $650 million upfront back in 2021. 🫣 $BMY https://t.co/f6e1iFGY3Q