Bristol Myers Squibb ices licensing pact with ArsenalBio to draft its designer T cells into the solid tumor fight
Back in late 2019, South San Francisco’s ArsenalBio uncorked an $85 million round to kickstart its designer T cell project with some splashy backers on board. Since then, Arsenal went to work: tripling its team, workshopping its product strategy and — in its biggest move yet — bringing on a major drugmaker to a multiyear licensing pact.
Arsenal and Bristol Myers Squibb will team up to find, develop and commercialize targeted T cell therapies for solid tumors as part of a collaboration unveiled Thursday. Arsenal will handle the early discovery work in the deal while Bristol will pay $70 million upfront with an option to license preclinical candidates and shepherd them to market.
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