NEW YORK—Bristol-Myers Squibb Company and Innate Pharma S.A.have announced that they have entered into a global agreement for thedevelopment and commercialization of IPH2102, a novel antibody from InnatePharma currently in Phase I development as a treatment for cancer.
"Bristol-Myers Squibb is dedicated to helping patientsprevail over cancer," said Francis Cuss, senior vice president of research forBristol-Myers Squibb, in a statement regarding the new partnership. "To help usin this mission, we are very pleased to join forces with Innate Pharma, whichhas developed a deep understanding of the immune system. Working together, wehave the opportunity to develop IPH2102, a potential first-in-class biologicthat may be able to harness a patient's immune system in the fight againstcancer."
Per the terms of the agreement, Bristol-Myers Squibb willreceive exclusive worldwide rights to develop, manufacture and commercializeIPH2102 as well as related compounds that block KIR receptors. Innate Pharmawill continue to develop the compound in acute myeloid leukemia through the endof Phase II and will provide pre-clinical support for IPH2102's development.For its part, Bristol-Myers Squibb will fund the compound's development, makingan upfront payment of $35 million as well as additional payments of up to $430million based on the achievement of previously agreed-upon milestones duringthe development and commercialization period, in addition to tiereddouble-digit royalty payments on worldwide net sales. The agreement covers allpotential indications for IPH2102.
"This agreement is the largest biotech licensing deal eversigned in France. Entering such a collaboration with Bristol-Myers Squibb givesInnate Pharma a strong validation of the key concepts of its science," saidHervé Brailly, Chief Executive Officer for Innate Pharma, in a press releaseregarding the agreement. "Bristol-Myers Squibb is a global leader in the fieldof immuno-oncology and therefore the best possible partner to fully realize thepotential of IPH2102 and we look forward to this collaboration."
Innate Pharma's website describes IPH 2102 as "a recombinantform of the anti-KIR monoclonal antibody IPH 2101, produced in a cell-line suitedfor industrial production." The drug works by interfering with the interactionbetween killer-cell immunoglobulin-like receptors (KIR) on natural killer (NK) cellswith ligands, which can activate NK cells to destroy tumor cells. Innate Pharmaspecializes in developing monoclonal antibodies "targeting receptors andpathways controlling the activation of innate immunity cells."
"Bristol-Myers Squibb's String of Pearls strategy seeks toestablish collaborations with leading innovator companies across the globe,"said Mike Seeley, general manager, France, Bristol-Myers Squibb. "We areexcited to establish an important such collaboration in France with InnatePharma, a pioneer in the field of innate immunity. This collaborationhighlights our commitment to France, the French biotech community and toimmuno-oncology, an area in which Bristol-Myers Squibb has developed a robustpipeline including ipilimumab."