SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--ArsenalBio, a privately held programmable cell therapy company, today announced the formation of a multi-year discovery collaboration with Bristol Myers Squibb (NYSE:BMY) to advance next-generation T cell therapies for the treatment of solid tumors. ArsenalBio will be responsible for discovering and building preclinical candidates against multiple targets, and Bristol Myers Squibb will have the option to obtain an exclusive worldwide license to develop and commercialize preclinical candidates. Following exercise of the option, Bristol Myers Squibb would be solely responsible for developing and commercializing the licensed candidates.
Through the multi-year collaboration, ArsenalBio will deploy its full stack of synthetic biology compositions to build programmable cell therapy product candidates, composed of its PrimeR™ logic gates, CARchitecture™ derived gene expression controls, and CellFoundry™ mediated nonviral manufacturing. Combined, these integrated circuit-modified T cells offer the promise of improved outcomes for patients.
“Despite the therapeutic benefit of cell therapies for hematologic cancers, cell therapies for solid tumors remain an area of significant opportunity and unmet medical need,” said Ken Drazan, MD, ArsenalBio’s co-founder and chief executive officer. “We are thrilled to team up with Bristol Myers Squibb to advance next-generation T cell therapies designed to serve patients and their providers. Their expertise and leadership in cell therapy and oncology drug development will help accelerate the pace with which we can move product candidates into and through clinical development and broaden our opportunity to help more patients and save more lives.”
Under the terms of the agreement, Bristol Myers Squibb will make an upfront cash payment to ArsenalBio of $70 million, and ArsenalBio will be eligible to receive additional payments associated with collaboration expansion, regulatory and sales milestones, as well as potential royalties on sales of approved products. Bristol Myers Squibb will also make an investment in ArsenalBio for an undisclosed amount.
ArsenalBio is a privately held, programmable cell therapy company focused on the realization of solid tumor cell therapy by helping more patients fight cancer and saving lives. Our discovery engine comprises the CellFoundry™ based nonviral manufacturing, integrated circuits comprised of PrimeR™ logic gates and CAR enhancements from our CARchitecture™ library, enabling multiple pharmaceutical functions. With our programmable and computationally driven approach, we aim for enhanced and broader efficacy, increased patient safety, reduced provider costs and expanded market access. Visit us at www.arsenalbio.com to learn more.