- Bristol-Myers Squibb & Co BMY has returned the exclusive rights to Dragonfly Therapeutics‘ IL-12 oncology candidate.
- In 2020, BMS handed out $475 million in near-term and upfront payments deal to license the interleukin-12 (IL-12) immunotherapy program, dubbed DF6002.
- The therapy is currently being assessed in a phase 1/2 trial in patients with various solid tumors as a monotherapy and combination with BMS’ cancer blockbuster Opdivo (Nivolumab).
- According to the press release, BMS is still conducting clinical development for DF6002, but Dragonfly is set to take over in the coming weeks.
- Dragonfly now holds all the rights for the IL12 cytokine—the most advanced drug in Dragonfly’s cytokine pipeline.
- Last month, Bristol-Myers Squibb exercised its option to enter into an exclusive license for a sixth TriNKET Immunotherapy drug candidate with Dragonfly Therapeutics.
- The announcement marks the first TriNKET opt-in outside of oncology.
- Dragonfly will receive a $25 million payment and is eligible for potential future milestones and royalties on net sales.
- Price Action: BMY shares are down 0.18% at $74.32 on the last check Monday.
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