Bristol Myers buys Orum Therapeutics' protein degrader take on ADCs for $100M upfront
Bristol Myers Squibb is further digging into the antibody-drug conjugate wave with a $100 million upfront deal for a different take on the technology.
The Big Pharma is buying an ADC asset out of Orum Therapeutics that attaches a protein degrader to an antibody rather than deploying chemotherapy or another cytotoxic drug.
Bristol Myers will nab an asset already cleared by the FDA for Phase I testing in acute myeloid leukemia and high-risk myelodysplastic syndromes. After the upfront money, BMS could dish out another $80 million in biobucks for ORM-6151, the companies announced Monday morning.
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