Bristol-Myers Squibb and CytomX sign a $1.24 billion agreement to develop novel antibody therapies

Source: Bio Valley May 28, 2014 Bio Valley / Bristol Myers Squibb (BMS) and cytomx treatment Co., Ltd jointly announced on May 27, 2014 that they have signed a global research cooperation and authorization agreement to discover, develop and commercialize cytomx's proprietary bodies A novel therapy developed by antibody platform targeting several immune oncology targets Probody is a kind of completely recombined monoclonal antibody Its antigen binding sites are blocked by patented antibody masking technology, and remain inert in healthy tissues In tumor microenvironment, probody can be cut by tumor specific protease to be selectively activated, exposing the antigenic binding sites Probody focuses on the activity of therapeutic antibodies to tumors and is harmless to healthy tissues Probody's unique selectivity has expanded the therapeutic window of proven and novel targets, and is expected to create a new kind of more safe and effective therapy Under the terms of the agreement, cytomx grants Bristol Myers Squibb probodies the global exclusive right to develop and commercialize four oncology targets, including CTLA-4, a clinically proven immunosuppressive checkpoint receptor Bristol Myers Squibb will pay US $50 million in advance If all four targets reach development, regulatory and sales milestones, cytomx will receive milestone payments of nearly $1.2 billion, as well as royalties for product sales.