pharmaphorum August 6, 2024
Bristol-Myers Squibb has handed back rights to a TIGIT drug partnered with Agenus, ending an alliance that could have been worth up to $1.56 billion to the biotech.
Agenus revealed BMS’ decision in a Securities & Exchange Commission (SEC) filing (PDF), saying it was a result of a “broader strategic realignment of their development pipeline which involves other licensed products.”
The decision comes as the viability of targeting TIGIT as an effective cancer immunotherapy remains in question, with lacklustre efficacy and concerns about safety undermining the class.
It’s worth noting however that BMS is also in the midst of a major cost-reduction effort, aiming to save $1.5 billion by the end of next year and with R&D bearing the brunt...
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