Bristol-Myers Squibb (BMS; NYSE: BMY), a prominent US pharmaceutical company, has decided to terminate its collaboration with Japanese pharmaceutical firm Eisai Co., Ltd, which was focused on the co-development of Eisai’s antibody drug conjugate (ADC) farletuzumab ecteribulin (FZEC; MORAb-202). According to a press release from Eisai, BMS’s decision is part of an ongoing internal effort to prioritize its portfolio.
Farletuzumab ecteribulin, developed by Eisai, is a folate receptor alpha (FRα)-targeted ADC currently under evaluation in three clinical trials: a Phase I/II study by Eisai for solid tumors (NCT04300556), and two Phase II studies by BMS for ovarian, peritoneal, and fallopian tube cancers (NCT05613088), as well as non-small cell lung cancer (NCT05577715).
As a result of BMS’s decision, Eisai will regain full control over the development and commercialization of FZEC globally. Eisai intends to return a portion of the unused USD 200 million payment it received from BMS for R&D expenses, with the remainder being recorded as other income.
The original partnership between the two companies was established in 2021, with BMS making an upfront payment of USD 650 million, including the USD 200 million for R&D costs, and committing to potential milestone payments of up to USD 2.45 billion. In April of this year, BMS announced the discontinuation of 12 development programs, including job cuts affecting approximately 2,200 employees, as part of a broader cost-saving initiative aimed at achieving savings of USD 1.5 billion.
Eisai’s press release emphasized that FZEC remains a high priority for the company, and it plans to accelerate the development of the molecule following BMS’s exit from the collaboration.- Flcube.com
