Bristol and Adnexus partner on cancer therapeutics

The collaboration will focus on Adnectin-based therapeutics. Adnectins are based on human fibronectin, an extracellular protein that is naturally abundant in human serum.

Adnectins are designed using the PROfusion System, Adnexus’ patented protein design engine, to achieve high potency and specificity for a therapeutic target while simultaneously selecting for ideal pharmaceutical product characteristics.

Adnexus will deploy its PROfusion technology on up to six research programs to identify and deliver preclinical Adnectin candidates to Bristol-Myers Squibb. Bristol-Myers Squibb will be responsible for global development and commercialization activities, with Adnexus retaining a limited co-promotion right on the first product to achieve regulatory approval in the US.

Under the terms of the agreement, Bristol-Myers Squibb will provide funds of approximately $30 million over the next three years to Adnexus. Adnexus also is eligible to receive regulatory milestone payments of up to $210 million per product, as well as royalties on product sales.

“Our recently published clinical data on Adnexus’ selective VEGFR-2 blocker, Angiocept, validates the broad utility of our proprietary Adnectin class, especially in cancer,” said John Mendlein, CEO of Adnexus.