Bristol Myers Squibb, BioNTech Partner in $11.1 Billion Deal for Bispecific Antibody BNT327

BioNTech surged 20% after Bristol Myers Squibb agreed to license its bispecific antibody BNT327 for solid tumors in a deal worth up to $11.1 billion. The deal includes a $1.5 billion upfront fee and $2 billion in guaranteed payments through 2028, with BioNTech eligible for up to $7.6 billion in milestones. The partnership accelerates BNT327's path to market with a Tier 1 oncology partner and provides BioNTech with substantial non-dilutive capital. Markets will focus on upcoming Phase 3 readouts and future milestone announcements.

BioNTech (BNTX) surged 20% following Bristol Myers Squibb (BMS) agreeing to license its bispecific antibody BNT327 for solid tumors in a deal worth up to $11.1 billion. The agreement includes a $1.5 billion upfront fee and $2 billion in guaranteed payments through 2028, with BioNTech eligible for up to $7.6 billion in milestone payments [1].

The collaboration accelerates BNT327's path to market with a Tier 1 oncology partner and provides BioNTech with substantial non-dilutive capital. The bispecific antibody targets PD-L1 and VEGF-A, aiming to improve treatment outcomes in various solid tumors. BNT327 is currently undergoing clinical trials with over 1,000 patients treated, including Phase 3 trials for small cell lung cancer and non-small cell lung cancer, with additional trials planned for triple-negative breast cancer [1].

The deal underscores the potential of BNT327 as a next-generation bispecific antibody, potentially offering improved treatment options across multiple hard-to-treat solid tumors. The partnership will leverage the strengths of both companies, with shared development costs and profits. BioNTech and BMS will jointly develop and commercialize BNT327, including its development as monotherapy and in combination with other products [1].

Markets will focus on upcoming Phase 3 readouts and future milestone announcements. The success of BNT327 could significantly enhance BioNTech's position in the oncology market and provide substantial financial benefits to both companies.

References:
[1] https://www.nasdaq.com/articles/biontech-and-bristol-myers-squibb-announce-global-co-development-bnt327-novel-bispecific