Looking for an I/O edge, Bristol-Myers fronts $105M to partner with Halozyme as Roche expands pact
After racking up H1 sales of $2.3 billion for its PD-1 star Opdivo, Bristol-Myers Squibb is now fronting $105 million — with a trove of $1.8 billion-plus in milestones — to see whether its hugely important immuno-oncology franchise can be helped by the delivery tech developed at Halozyme.
That’s not all for Halozyme. Right after the Bristol-Myers $BMY deal popped Thursday morning, Roche {RHHBY} unveiled its own plan to use the delivery tech for another target of its own — expanding on their collaboration — which it will keep under wraps. That adds a $30 million up-front payment with another $160 million in milestones, bringing the package today to $2 billion in the up fronts and goal cash for Halozyme $HALO.
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