Bristol Myers Squibb (BMS) has made a significant move in the field of antibody-drug conjugates (ADCs) by acquiring Orum Therapeutics’ phase 1 blood cancer medication for an upfront payment of $100 million. Orum is also eligible for additional milestone payments totaling $80 million should the ORM-6151 program prove successful. While specific financial terms beyond this were not disclosed, the deal underscores BMS’s commitment to ADCs, following its previous $22.8 million upfront investment in Tubulis for access to ADC creation technology earlier this year.
Although BMS’s deals in the ADC space are substantial, they are eclipsed by the recent activity of competitors in the field. Merck & Co. recently entered a $4 billion upfront agreement with Daiichi Sankyo for three programs, offering potential milestone payments of up to $22 billion. Similarly, GSK made an $85 million upfront payment, with an additional $1.4 billion contingent on milestones, to secure Hansoh Pharma’s gynecologic cancer asset.
Also Read: Bristol Myers Squibb Acquires Mirati Therapeutics In A $5.8 Billion Deal To Expand Its Cancer Treatment Portfolio
ORM-6151, developed by Orum, is an anti-CD33 antibody-enabled GSPT1 degrader that has received clearance for phase 1 clinical trials, specifically for the treatment of acute myeloid leukemia or high-risk myelodysplastic syndromes.
The parties involved in the transaction provided limited details, with Orum’s CEO, Dr. Sung Joo Lee, highlighting the validation of Orum’s Dual-Precision Targeted Protein Degradation approach through the deal with BMS.
“We believe this agreement with Bristol Myers Squibb, a global leader in cancer with a strong legacy in protein degradation, validates Orum’s unique Dual-Precision Targeted Protein Degradation approach, which we pioneered to improve the therapeutic window and realize the full potential of targeted protein degraders through precision delivery to cancer cells via antibody drug conjugates. We are excited that Bristol Myers Squibb has acquired our ORM-6151 program with proprietary GSPT1 degraders, first-in-class targeted protein degraders with the potential to make an impact for patients with cancer.”
– Sung Joo Lee, Ph.D., CEO of Orum Therapeutics
In other developments within the field of oncology, BMS recently made a substantial acquisition, securing Mirati Therapeutics for $5.8 billion in October. This acquisition followed years of speculation and a competitive race to finalize the deal, involving two other global pharmaceutical companies.
