The agreement between Bristol Myers Squibb and Dragonfly Therapeutics includes DF6002, an extended half-life IL12 cytokine, which is being studied as a treatment for advanced solid tumours in adults.
According to Dragonfly Therapeutics, DF6002 is a monovalent IL-12 immunoglobulin Fc fusion protein, which can establish an inflammatory tumour microenvironment required for productive anti-tumour responses in order to provide strong anti-tumor efficacy.
DF6002 can potentially trigger effective anti-tumor immunity in patients who are not eligible or not responding adequately to existing therapies, as per the Massachusetts-based clinical-stage biopharma company.
Under the terms of the deal, Bristol Myers Squibb will handle the development and any subsequent commercialisation of the extended half-life IL12 cytokine and its related products across the world. This includes strategic decisions, regulatory submissions, funding, and manufacturing.
Bristol Myers Squibb executive vice president and research and early development president Rupert Vessey said: “As we continue to expand our focus in oncology, we are pleased to be adding an IL-12 Fc-fusion protein to our oncology pipeline in the form of DF6002.
“We look forward to our continued work with Dragonfly to further guide the program’s clinical data at this pivotal point in its development, as we continue to deliver on our commitment to serve more patients with cancer.”
Dragonfly Therapeutics will be paid $475m in near-term upfronts by Bristol Myers Squibb besides being entitled to get payments associated with performance-based development, regulatory, and commercial milestones.
Additionally, the clinical-stage company will get up to 24% royalties on the global net sales.
Dragonfly Therapeutics co-founder and CEO Bill Haney said: “We are excited to be collaborating once again with Bristol Myers Squibb, whose broad range of oncology agents makes it a fantastic partner to accelerate the development of DF6002, the most advanced cytokine in Dragonfly’s pipeline.
“We are confident that the talent, experience and commitment to science-driven innovation of the Bristol Myers Squibb team will enable DF6002 to discover novel, lifesaving solutions for patients.”
The deal is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.