Bristol Myers Squibb has called time on a bispecific antibody partnership with Zymeworks that the Big Pharma inherited from Celgene.
Zymeworks’ collaboration with Celgene was signed back in 2015 and centered on developing up to eight bispecific antibody therapeutics using Zymeworks’ Azymetric platform. The platform uses amino acid modifications in the heavy and light chains of an IgG-like antibody to enable the transformation of monospecific antibodies into antibodies that can bind to multiple targets.
In addition to an $8 million upfront payment, the original deal meant Zymeworks was in line for up to $164 million in potential milestone payments for each candidate.
Celgene clearly liked what it saw, paying another $4 million to expand the collaboration in 2018 to include an additional two candidates as well as extend the partnership by two more years. Before that deadline, Celgene was bought out by BMS, with the Zymeworks partnership falling under the purview of the Big Pharma.
BMS decided to pursue one of the bispecifics from this collaboration, which targeted CD40 and fibroblast activation protein (FAP). According to Zymeworks’ website, the biopharma stood to make $313 million in milestones if the bispecific—which made it into phase 1 development for solid tumors—proved a success.
However, that payday now looks forever to be out of reach, with BMS disclosing in its first-quarter earnings documents this morning that it has removed the candidate from its phase 1 pipeline.
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A spokesperson for BMS acknowledged that the decision meant the end of the road for the legacy partnership with Zymeworks.
“Bristol Myers Squibb regularly reviews its portfolio to ensure resources are allocated to programs with the highest potential impact for patients,” the spokesperson told Fierce. “As part of our ongoing prioritization efforts, we have decided to discontinue development of the remaining program under our collaboration agreement with Zymeworks.”
“Innovation in oncology remains a priority for Bristol Myers Squibb, and we continue to invest in business development opportunities where we see significant potential for new approaches to help patients prevail over serious diseases,” the spokesperson added.
Fierce has asked Zymeworks whether it plans to continue to develop the bispecific by itself.
The biopharma, which developed Jazz Pharmaceuticals’ approved bispecific HER2 drug Ziihera, outlined a plan last November to transform the company from a traditional biotech into a “royalty-driven organization.” The idea is to leverage cash flows from its partnerships with the likes of Johnson & Johnson and GSK to enable internal R&D and potential acquisitions.
