Arsenal Biosciences, Inc., a company specializing in clinical-stage programmable cell therapy, announced on Monday that Bristol-Myers Squibb Co. (BMY) has taken up its exclusive licensing option for ArsenalBios' AB-4000 series. With this decision, Bristol Myers Squibb will now take full responsibility for the development and commercialization of the licensed drug candidates.
ArsenalBio has stated that it remains entitled to receive additional milestone payments as the projects and collaboration move forward, along with royalties from any potential commercial sales.
The primary initiative under this collaboration was initiated through a multi-year discovery agreement signed in December 2020, focusing on the advancement of next-generation T cell therapies targeted at treating solid tumors. Within this agreement, ArsenalBio is tasked with discovering and establishing preclinical candidates across various targets. Meanwhile, Bristol Myers Squibb has the option to secure an exclusive global license to develop and commercialize these candidates.
In January 2022, Bristol Myers Squibb opted to commence a new program, thereby broadening its strategic partnership with ArsenalBio. Then, in July 2023, Bristol Myers Squibb signed a limited co-exclusive commercial license agreement to utilize ArsenalBio's proprietary TME control technology, with the aim of potentially enhancing CAR T therapeutic efficacy in a select number of its cell therapy products.
The companies have emphasized that this milestone fortifies their collaborative efforts to propel next-generation T cell therapies forward in the treatment of solid tumors.
Ken Drazan, the Chairman and CEO of ArsenalBio, commented, "We are eager to continue our collaboration with Bristol Myers Squibb and advance the AB-4000 series towards clinical trials, with the hope of offering new solutions to patients suffering from solid tumors."
