Tubulis and Bristol Myers Squibb entered into a strategic license agreement to develop differentiated antibody-drug conjugates (ADCs).

Through the agreement, BMS will gain exclusive rights to access Tubulis’ Tubutecan payloads in combination with Tubulis’ proprietary P5 conjugation platform for the development of a selected number of highly differentiated ADCs to treat solid tumors. P5 and Tubutecans facilitate the generation of ultra-stable ADCs that have the potential to actively reduce unwanted target-independent toxicities and are optimized for on-target delivery of potent topoisomerase-1 inhibitors.

The terms of the agreement include an upfront payment of $22.75 million to Tubulis in addition to the potential for over $1 billion in development, regulatory, and commercial milestone payments plus royalty payments on resulting marketed products. Following antibody target selection by Bristol Myers Squibb, Tubulis will provide the company with its linker-payload to generate a uniquely matched ADC for each antibody. Bristol Myers Squibb will assume sole responsibility for development, manufacturing, and commercialization of the resulting ADC candidates.

“This strategic agreement with Bristol Myers Squibb is an important validation of the potential of our approach in developing next-generation ADC-based therapeutics and our cutting-edge ADC conjugation technologies that accommodate advanced ADC design to tackle tumors with high-unmet medical need,” said Dominik Schumacher, CEO and co-founder of Tubulis. “We are committed to transforming oncology treatment paradigms and to deliver better outcomes for cancer patients. Joining forces with BMS, a leading global oncology company, is a significant step towards achieving that goal.”

Emma Lees, senior vice president, research and early development and head, mechanisms of cancer resistance thematic research center at BMS said: “ADCs play a promising role in cancer therapy, and Tubulis’ differentiated technologies offer opportunities to overcome current challenges in the development of safe and effective ADC therapeutics. With the P5 platform, we will be able to pair the right antibody with the right payload and thus provide potential for meaningful therapeutic benefits for patients with solid tumors. We are looking forward to a fruitful partnership with the Tubulis team.”