Sichuan Biokin Pharmaceutical Co., Ltd. (SHA: 688506) has officially activated its licensing and cooperation agreement with U.S. pharmaceutical giant Bristol-Myers Squibb (BMS; NYSE: BMY) for the development of Biokin’s BL-B01D1 antibody-drug conjugate (ADC) candidate, effective February 8, 2024. As of March 7, the company confirmed receipt of the USD 800 million upfront payment stipulated in the agreement.
The deal, signed in December 2023, includes an upfront payment of USD 800 million and commits BMS to potential milestone payments totaling up to USD 8.4 billion for the rights to BL-B01D1, an ADC targeting both EGFR and HER3. Under the terms of the agreement, development and commercialization efforts will be jointly undertaken in the United States, while Biokin will manage the development, commercialization, and manufacturing processes in mainland China, including supplying some quantities of the drug for international markets. BMS will oversee development and commercialization efforts outside of China.
Currently, BL-B01D1 is undergoing a global multi-center Phase I study for metastatic or unresectable non-small cell lung cancer (NSCLC), with preliminary data indicating substantial anti-tumor activity in both NSCLC and breast cancer patients who have experienced disease progression following standard treatments.- Flcube.com
