Biontech: Research cooperation with US company BMS
Bristol Myers Squibb (BMS) is contributing several billion dollars to cancer research.
Frankfurt (d.de/DLF) - Pharmaceutical company Biontech from Mainz and US pharma business Bristol Myers Squibb (BMS) are seeking to launch a new cancer drug, reports Deutschlandfunk. Both companies announced on Monday that they would jointly further develop Biontech’s BNT327 antibody – which has the potential to “set a new standard of care” for various tumour types. BNT327 is already undergoing clinical trials involving thousands of patients. The medication is due to be used to combat lung and breast cancers.
BMS is paying Biontech an advance of 1.5 billion dollars and a further two billion dollars by 2028. Biontech is moreover entitled to up to 7.6 billion dollars in “additional milestone payments” for development, approval and marketing. Both companies wanted to share the development and production costs equally, as well as the global profits and losses. Biontech CEO and founder Ugur Sahin, who manages the company together with his wife Özlem Tureci, explained that this collaboration with BMS is intended to “accelerate the development of BNT327”.