Trump announces trade deal with EU following months of negotiations
Investing.com -- BioNTech SE (NASDAQ:BNTX) and Bristol Myers (NYSE:BMY) Squibb have announced their global collaboration for the co-development and co-commercialization of BioNTech’s experimental bispecific antibody BNT327, intended for use in various solid tumor types. The partnership aims to expedite and expand the development of this clinical candidate.
The BNT327 antibody, which targets PD-L1 and VEGF-A, is presently being tested in multiple ongoing trials with over 1,000 patients treated so far. These include global Phase 3 trials assessing BNT327 as a first-line treatment in extensive stage small cell lung cancer (ES-SCLC) and non-small cell lung cancer (NSCLC). Additionally, a global Phase 3 trial for triple negative breast cancer (TNBC) is set to commence by the end of 2025. Preliminary data from ongoing trials highlight the potential of combining anti-PD-L1 and anti-VEGF-A into a single molecule to enhance clinical benefits for patients across multiple tumor types.
As per the agreement terms, both companies will jointly develop and market BNT327, including its development as a standalone therapy and in combination with other products. BioNTech and BMS both retain the right to independently develop BNT327 for additional indications and combinations, including combinations with proprietary pipeline assets.
Prof. Ugur Sahin, M.D., CEO and Co-Founder of BioNTech, expressed his belief in BNT327’s potential to become a foundational immuno-oncology backbone, expanding beyond single-mechanism checkpoint inhibitors and into multiple solid-tumor indications. Christopher Boerner, Ph.D., Board Chair and CEO of Bristol Myers Squibb, also acknowledged the significant potential of BNT327 for transforming the standard of care for patients with solid tumors.
Under the financial terms of the agreement, BMS will pay BioNTech an upfront payment of $1.5 billion and $2 billion in non-contingent anniversary payments through 2028. These tax-deductible charges will be recorded as Acquired IPR&D Expense, with the $1.5 billion being incurred in Q2. In addition, BioNTech could receive up to $7.6 billion in additional development, regulatory and commercial milestones. Both companies will equally share joint development and manufacturing costs, barring certain exceptions. Global profits or losses will also be equally shared between BioNTech and BMS.