BioPharma Dive May 12, 2022
Dive Brief:
- Bristol Myers Squibb will pay $90 million to license an experimental cancer drug from BridgeBio Pharma, expanding an earlier collaboration with the biotechnology company that was focused on pairing the drug with Bristol Myers’ immunotherapy Opdivo.
- BridgeBio’s drug, dubbed BBP-398, is aimed at a protein target called SHP2 that’s involved in the development of some cancers. With the deal, which was announced Thursday, Bristol Myers joins a lengthening list of pharmaceutical companies exploring SHP2-targeting drugs as way to treat solid tumors.
- Under the terms of the deal, BridgeBio could receive as much as $805 million more in payments tied to development, regulatory and sales milestones. The biotech will lead three Phase 1 clinical trials of BBP-398 that...
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