Dragonfly to receive a $12 million payment and is eligible to receive potential future milestones and royalties on net sales.
WALTHAM, Massachusetts, Aug. 10, 2020 /PRNewswire/ -- Dragonfly Therapeutics, Inc. ("Dragonfly" or the "Company"), today announced that Bristol Myers Squibb ("BMS") has licensed its fourth TriNKET™ immunotherapy drug candidate from Dragonfly. Since the original 2017 collaboration focusing on hematology malignancies, the companies have agreed two additional collaborations across solid tumors, and autoimmune disease.
"We are impressed with the quality of candidates developed using Dragonfly's TriNKET™ technology," said Rupert Vessey, FRCP, DPhil, President of Research and Early Development, Bristol Myers Squibb. "In just three years, Dragonfly delivered four drug candidates to BMS, a remarkable pace of development. During that time, we have assessed Dragonfly's TriNKET™ drug candidates in both cancer and autoimmune indications, and have built three collaborations together. We continue to be encouraged by the potential treatment options for patients offered by harnessing the power of NK cells."
"We have had a very productive collaboration with BMS and are pleased with both the speed of our development efforts and the continuing validation of our platform that this opt-in decision by BMS represents," said Dragonfly CEO Bill Haney. "As we advance our internal programs, including our clinical stage TriNKET DF-1001 and IL12 cytokine DF-6002, we look forward to strong continued collaboration with BMS to bring potential new NK-cell based treatment options to patients with cancer, autoimmune disease, and neurological conditions."
Dragonfly Therapeutics is a clinical-stage biopharmaceutical company committed to discovering, developing and commercializing therapies that use its novel bispecific antibody technology to harness the body's innate immune system to bring breakthrough treatments to patients. Dragonfly has a deep pipeline of wholly owned preclinical candidates discovered using its platform that are progressing toward the clinic, as well as productive collaborations with BMS, Merck, and Abbvie in a broad range of disease areas.