- Companies join forces bringing together Bristol Myers Squibb’s (BMS) deep oncology and clinical development expertise and Tubulis’ differentiated and unique approach to Antibody-Drug-Conjugate (ADC) design with the goal of delivering the true therapeutic potential of ADCs.
- Tubulis to receive upfront payment of $22.75 million and milestone payments potentially totaling over $1 billion plus tiered royalties on net product sales.
- BMS to obtain access to Tubulis’ proprietary P5 conjugation and Tubutecan platforms to develop versatile and customizable antibody-drug conjugates for cancer treatment.
Munich, Germany, 20 April, 2023:
Evotec-partner Tubulis and Bristol Myers Squibb (NYSE: BMY) today announced that they have entered into a strategic license agreement to develop differentiated antibody-drug conjugates ("ADCs").
Through the license agreement, Bristol Myers Squibb will gain exclusive rights to access Tubulis’ Tubutecan payloads in combination with Tubulis’ proprietary P5 conjugation platform for the development of a selected number of highly differentiated ADCs to treat solid tumors. The terms of the agreement include an upfront payment of $22.75 million to Tubulis in addition to the potential for over $1 billion in development, regulatory, and commercial milestone payments plus royalty payments on resulting marketed products.
Evotec made a strategic equity investment in Tubulis GmbH by participating in the company’s Series B financing round in May 2022.
For further information, please follow this link to the press release from Tubulis.