US pharmaceutical major Bristol-Myers Squibb (BMS; NYSE: BMY) has announced its decision to end its collaboration with Agenus Inc. (NASDAQ: AGEN) regarding the development of the TIGIT/CD96-targeted bispecific antibody BMS-986442 (AGEN1777). This move follows an initial decision to advance the antibody to Phase II trials earlier this year, which resulted in a $25 million milestone payment from BMS to Agenus.
The partnership, initiated in 2021, saw BMS invest an upfront payment of $200 million and commit to potential development and commercial milestone payments totaling up to $1.36 billion. To date, Agenus has received a total of $45 million in milestone payments, including the most recent $25 million in January 2024, which was associated with the dosing of the first patient in Phase II.
Effective January 26, 2025, Agenus will regain all rights to the molecule. In a statement to the SEC, Agenus indicated that it has already initiated the generation of early safety and efficacy data for AGEN1777 and intends to explore further development and/or potential relicensing of the molecule, considering its combination with other synergistic immuno-oncology agents from its portfolio.- Flcube.com
