Drag­on­fly chief: Bris­tol My­ers shouldn’t blame IL-12’s clin­i­cal per­for­mance for de­ci­sion to scrap the deal — eco­nom­ics played a key role

Bris­tol My­ers Squibb says the IL-12 drug they were de­vel­op­ing out of Drag­on­fly Ther­a­peu­tics was scrubbed from the pipeline for a sim­ple rea­son: It didn’t mea­sure up on clin­i­cal per­for­mance.

But Bill Haney, the CEO of Drag­on­fly, is tak­ing is­sue with that.

The ear­ly-stage drug, still in Phase I de­vel­op­ment, has passed muster with Bris­tol My­ers’ gen­er­al clin­i­cal ex­pec­ta­tions, ad­vanc­ing suc­cess­ful­ly while still in Phase I, he says.

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