Bristol-Myers, Five Prime
enter licensing deal of up to $1.74 billion
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[October 15, 2015] (Reuters)
- Bristol-Myers Squibb Co said on Thursday
it agreed to exclusively license and collaborate with Five Prime
Therapeutics Inc to develop and commercialize Five Prime's antibody
program in the treatment of cancer.
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Five Prime will receive $350 million upfront and potential
development and regulatory milestone payments, totaling $1.74
billion, for the program which includes the drug component codenamed
FPA008.
The drug component, which is in Phase 1 development, belongs to a
new class of drugs called immunotherapies, designed to harness
body's own immune system to fight cancer.
The global deal includes additional double-digit royalties on future
sales and an option to co-promote in the United States, the
companies said in a statement. [nGNXVEPOXa]
(Reporting by Ismail Shakil in Bengaluru; Editing by Gopakumar
Warrier)
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