Orum Therapeutics, a clinical-stage biotechnology company pioneering Dual-Precision Targeted Protein Degradation (TPD²) and Targeted Protein Stabilization (TPS²), entered into a definitive agreement under which Bristol Myers Squibb has acquired Orum’s ORM-6151 program for $100 million upfront. Orum is eligible to receive milestone payments for a total deal value of $180 million. 
 
ORM-6151 is a first-in-class, anti-CD33 antibody-enabled GSPT1 degrader that has received the FDA’s clearance for Phase 1 for the treatment of acute myeloid leukemia or high-risk myelodysplastic syndromes.
 
Orum’s GSPT1 platform uses the company’s TPD² approach to build novel targeted protein degraders combined with the precise tumor cell delivery mechanisms of antibodies to generate first-in-class, tumor-selective TPDs for the treatment of cancer. Conjugated to antibodies, the payloads are designed to be delivered specifically to cancer cells and degrade the intracellular target protein GSPT1 and cause tumor cell death.
 
“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,” said Sung Joo Lee, Ph.D., CEO of Orum Therapeutics. “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.”