Ambrx and Bristol-Myers Squibb have entered into a collaboration agreement for the discovery and development of novel antibody drug conjugates using Ambrx's protein medicinal chemistry technology. Ambrx will receive an upfront payment of $15 million, funding for discovery and research activities, and potential development, regulatory and sales milestones of as much as $97 million per product. BMS will have worldwide rights to develop and commercialize products resulting from the collaboration, and Ambrx is eligible to receive royalties on sales.
"Bristol-Myers Squibb is a global biopharmaceutical leader with expertise developing and commercializing novel medicines for the treatment of cancer and other diseases, and we are pleased to enter into a third collaboration with the company to include another aspect of our technology platform," said Lawson Macartney, Ph.D., chief executive officer of Ambrx. "We look forward to working together to further utilize Ambrx's technology to discover and advance these antibody drug conjugates for oncology indications."
The companies previously entered into two separate agreements to research, develop and commercialize biologics created with Ambrx's protein medicinal chemistry technology. These candidates target the Fibroblast Growth Factor 21 (FGF-21) protein for the potential treatment of type 2 diabetes, and the Relaxin hormone for the potential treatment of heart failure, which are being developed by BMS.