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    Home»Deals & Transactions»Bristol Myers enters up to $920 mln deal with Immatics for cancer drug
    Deals & Transactions

    Bristol Myers enters up to $920 mln deal with Immatics for cancer drug

    December 15, 2021Updated:December 15, 20211 Min Read
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    Drugmaker Bristol Myers Squibb has agreed to spend up to $920 million for global exclusive rights to an experimental immunotherapy developed by Immatics NV , the companies said on Tuesday.

    Under the agreement, the companies will co-develop the therapy, IMA401. Cancer-focused drug developer Immatics will receive an upfront payment of $150 million, up to $770 million in milestone payments and tiered double-digit royalty payments on net sales of the therapy.

    In June, the drugmaker had inked an up to $3.1 billion agreement with Eisai Co to jointly develop and market an experimental drug for the treatment of solid tumors. In May, Bristol Myers had entered into a $1.56 billion deal to exclusively develop and market Agenus Inc’s experimental cancer drug.

    Read more/Source: Reuters

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