Listen to this article

Bristol Myers Squibb and BioNTech announced a strategic partnership June 2 to co-develop and co-commercialize BioNTech’s next-generation cancer immunotherapy – BNT327 – across numerous solid tumor types.

Under the terms of the agreement, Lawrenceville-based BMS will pay BioNTech up to $11.1 billion. The two companies will share joint development and manufacturing costs as well as global profits/losses.

“We believe BNT327 has the potential to become a foundational immune-oncology backbone, moving beyond single-mechanism checkpoint inhibitors and expanding into multiple solid-tumor indications,” said Dr. Ugur Sahin, CEO and co-founder of Mainz, Germany-based BioNTech. “Our collaboration with BMS, a pioneering leader in immuno-oncology, aims to accelerate and broadly expand BNT327’s development to fully realize its potential.”

Key details about the strategic partnership:

• BNT327 undergoing evaluation in multiple ongoing trials, including a global Phase 3 trial to treat lung cancer
• Will develop BNT327 as a monotherapy as well as in combination with other products
• Both companies have the right to independently develop BNT327 in further indications and combinations, including with proprietary pipeline assets
• BMS will pay BioNTech $1.5 billion in an upfront payment and $2 billion total in non-contingent anniversary payments through 2028
• BioNTech will be eligible to receive up to $7.6 billion in additional development, regulatory and commercial milestones

BMS board Chair and CEO Christopher Boerner said the company is impressed by the innovation BioNTech has achieved to date and looks forward to partnering to accelerate existing clinical trials and time to market, while expanding the number of potential indications.

“Our deep experience and expertise in advancing and delivering groundbreaking immune-oncology medicines positions BMS well to collaboratively realize the potential of BNT327, an asset with significant potential for transforming the standard of care for patients with solid tumors,” said Boerner. “The science behind BNT327 and its leading clinical position in multiple hard-to-treat tumor types, further bolsters our pursuit of novel mechanism and multiple modalities in oncology – and enhances our growth trajectory.”

“Our focus remains on advancing high-impact, pan-tumor programs and combination strategies in oncology, with BNT327 complementing our antibody-drug conjugate programs and mRNA-based immunotherapies,” said Sahin. “We are dedicated to delivering truly transformative options for patients in need.”