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.

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