SystImmune Partners with Bristol-Myers Squibb to Develop and Commercialize Bispecific ADC Globally

SystImmune, a clinical-stage biopharmaceutical company, and Bristol Myers Squibb (BMS) have recently entered into an exclusive license and collaboration agreement of up to $8.4 billion to jointly develop and commercialize BL-B01D1, a bispecific antibody-drug conjugate (ADC) targeting EGFR and HER3. The two parties have established a strategic alliance. SystImmune retains the exclusive license in China, while BMS has obtained the exclusive license for the rest of the world.

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$800M Upfront, Bringing Total Potential Value to $8.4B

BMS will pay SystImmune $800 million upfront, plus contingent short-term payments of up to $500 million. Additional payments based on development, regulatory and sales performance milestones could be as high as $7.1 billion, bringing the total value to $8.4 billion. The collaboration involves sharing global development costs as well as profit and loss in the United States. SystImmune retains exclusive development and commercialization rights in mainland China, and BMS will receive royalties. Outside the United States and China, SystImmune will receive tiered royalties based on net sales.

Dedicated to Solving Solid Tumors

BL-B01D1 is a bispecific ADC that uses a bispecific topoisomerase inhibitor-based approach to target two key receptors, EGFR and HER3 (epidermal growth factor receptor and human epidermal growth factor receptor 3) that are highly expressed in epithelial tumors. A global multi-center Phase 1 study is currently being conducted to assess the safety and efficacy of this drug in patients with unresectable or metastatic non-small cell lung cancer (NSCLC). The results of earlier clinical studies of BL-B01D1 were presented in 2023 at the ASCO, ESMO and the San Antonio Breast Cancer Symposium, which demonstrated promising anti-tumor activity in patients with a range of solid tumors that have progressed after standard-of-care treatments, including NSCLC and breast cancer.

The combination of SystImmune’s expertise in ADCs and BMS’ clinical development capabilities provides the foundation for the development of BL-B01D1. This collaboration not only expands BMS’ oncology portfolio but also strengthens its position in the ADC space. The joint goal of this collaboration is to provide differentiated treatment options for patients facing unmet medical needs in solid tumor oncology.

Author

Sinead Huang