Bris­tol My­ers bags Sys­tIm­mune’s lung can­cer drug for $800M up­front in its third ADC-fo­cused pact of 2023

Bris­tol My­ers Squibb has inked a deal with Chi­nese-US biotech Sys­tIm­mune with one of the largest up­front pay­ments for the year — pay­ing $800 mil­lion up­front for the rights to its Phase I bis­pe­cif­ic an­ti­body-drug con­ju­gate tar­get­ing both HER3 and EGFR.

Sys­tIm­mune will de­vel­op, com­mer­cial­ize and man­u­fac­ture the drug can­di­date, dubbed BL-B01D1, in main­land Chi­na through its af­fil­i­ates, while BMS will take the reins for the rest of the world. The part­ners are ex­pect­ed to work to­geth­er on US de­vel­op­ment and com­mer­cial­iza­tion ac­tiv­i­ties.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER