Bristol Myers Squibb and Dragonfly Therapeutics Form $475-Million Immunotherapy Deal

Bristol Myers Squibb and Dragonfly Therapeutics announced on August 17, 2020 that they have entered into a $475-million definitive agreement for the global exclusive license to Dragonfly’s interleukin-12 (IL-12) investigational immunotherapy program, including its extended half-life cytokine DF6002, a monovalent IL-12 immunoglobulin Fc fusion protein for anti-tumor efficacy.

Through the agreement, Bristol Myers Squibb will handle the development and commercialization of DF6002 and its related products worldwide, including strategic decisions, regulatory responsibilities, funding, and manufacturing, a Bristol Myers Squibb press release said. Dragonfly will obtain $475 million in near-term upfront payments and is eligible to receive performance-based development, regulatory, and commercial milestone payments, along with 24% on royalties on worldwide net sales.

FDA cleared the investigational new drug application for the development of DF6002 in May 2020, the press release said. Currently, Dragonfly is conducting an ongoing Phase I/II clinical trial for patients with advanced solid tumors.

“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,” said Rupert Vessey, executive vice-president and president, Research & Early Development, Bristol Myers Squibb, in the press release. “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.”

“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,” said Bill Haney, co-founder and CEO of Dragonfly Therapeutics, in the press release. “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.”

Source: Bristol Myers Squibb