Sichuan Biokin Pharmaceutical Co., Ltd (SHA: 688506), a Chinese pharmaceutical company, has announced that a licensing and cooperation agreement with US pharmaceutical giant Bristol-Myers Squibb (BMS; NYSE: BMY) has officially come into effect as of February 8, 2024, following the expiration of the waiting period for the deal. The agreement focuses on Biokin’s BL-B01D1 antibody drug conjugate (ADC) candidate, which targets both EGFR and HER3.
BMS has paid an upfront fee of USD 800 million and has committed to potential total milestone payments of up to USD 8.4 billion in a deal signed in December 2023 for the rights to Biokin’s BL-B01D1. The development and commercialization will be jointly conducted in the United States, while Biokin will independently handle the development, commercialization, and manufacturing in mainland China, as well as manufacture some supplies of the drug candidate for use outside of China. BMS will be solely responsible for the development and commercialization outside of China.
BL-B01D1 is currently under investigation in a global multi-center Phase I study for metastatic or unresectable non-small cell lung cancer (NSCLC). Early data have demonstrated significant anti-tumor activity in both NSCLC and breast cancer patients whose disease has progressed after standard treatment.- Flcube.com
