Ambrx, Bristol-Myers in ADC cancer deal
Ambrx Inc. (La Jolla, Calif.) partnered with Bristol-Myers Squibb Co. (NYSE:BMY) to discover and develop antibody-drug conjugates (ADCs) for undisclosed cancer indications. Ambrx will receive $15 million up front and research funding, as well as up to $97 million in milestones per product, plus royalties. Ambrx will use its EuCODE site-specific protein chemistry technology to design and develop ADCs against undisclosed targets, and Bristol-Myers will have worldwide rights to develop and commercialize the ADCs.
The deal is Ambrx's third drug-conjugate partnership within a year. Ambrx partnered with Astellas Pharma Inc. (Tokyo:4503) in April to discover and develop ADCs, and with Merck & Co Inc. (NYSE:MRK) last June to design and develop biologic drug conjugates (see BioCentury, July 9, 2012). ...