Bristol Myers Squibb (BMS) and Dragonfly Therapeutics, a Waltham, Massachusetts-based company specializing in cancer immunotherapies, have formed a collaboration, worth up to $475 million, for Dragonfly’s immunotherapy candidate, DF6002, for treating advanced solid tumors.

Under the agreement, BMS will become responsible for the development and any subsequent commercialization of DF6002 and its related products globally, including strategic decisions, regulatory responsibilities, funding, and manufacturing. Dragonfly will receive $475 million in near-term upfronts and is eligible to receive performance-based development, regulatory, and commercial milestone payments. In addition, Dragonfly will receive up to 24% royalties on global net sales. The agreement is subject to antitrust clearance.

DF6002 is a monovalent IL-12 immunoglobulin Fc fusion protein proposed to achieve strong anti-tumor efficacy by establishing an inflammatory tumor microenvironment necessary for productive anti-tumor responses. DF6002 has the potential to stimulate effective anti-tumor immunity in patients who are not eligible or not adequately responding to current therapies, according to information from the companies. DF6002 is the most advanced in a pipeline of cytokines that Dragonfly is developing to treat advanced cancer.

Dragonfly received US Food and Drug Administration clearance in May 2020 for its investigational new drug (IND) application to develop DF6002. In addition, Dragonfly has an ongoing Phase I/II clinical trial for patients with advanced solid tumors, which began in July 2020. BMS says it intends to advance the research and development of DF6002 in oncology and hematology.

Source: Bristol Myers Squibb