(Information sent by the signatory company)
Since their original 2017 collaboration focused on blood malignancies, the companies have agreed to two additional collaborations that include oncology and neuroinflammation targets. Today's announcement marks TriNKET's first deal outside of oncology.
Dragonfly will receive a payment of $25 million and is entitled to receive potential future milestones and royalties on net sales.
WALTHAM, Mass., Jan. 6, 2023 /PRNewswire/ -- Dragonfly Therapeutics, Inc., a clinical-stage biotechnology company developing novel immunotherapies, today announced that Bristol Myers Squibb has exercised its option to obtain an exclusive license to a sixth TriNKET immunotherapy drug candidate, bringing the total number of drug candidates licensed from Bristol Myers Squibb to seven, including Dragonfly's new cytokine IL12 DF6002/BMS-986415. Since their original 2017 collaboration focused on blood malignancies, the companies have agreed to two additional collaborations that include oncology and neuroinflammation targets. Today's announcement marks the first TriNKET deal outside of oncology.
"We are delighted that our research collaboration initiated with Dragonfly in July 2020 on multiple sclerosis and neuroinflammation has rapidly produced new TriNKET drug candidate molecules that may provide new treatment options for patients with neurological diseases," said Richard Hargreaves. , Senior Vice President of Neuroscience, Bristol Myers Squibb.
"We believe this decision by Bristol Myers Squibb further validates our drug discovery platform," said Bill Haney, CEO of Dragonfly. "Ongoing clinical trials of six drugs being developed by Dragonfly, including our DF1001 (HER2) TriNKETs against solid tumors, now in phase 2, DF9001 (EGFR), and our new cytokine IL12, in collaboration with BMS, underscore the breadth of the Dragonfly's portfolio of innovative therapeutics and their potential to help patients with hematologic cancers, solid tumors, autoimmune diseases, and neurological conditions."
About Dragonfly
Dragonfly Therapeutics is a clinical-stage biopharmaceutical company dedicated to the discovery, development and commercialization of therapies that use its novel bispecific antibody technology to harness the body's innate immune system and deliver innovative treatments to patients. Dragonfly has a broad pipeline of proprietary preclinical candidates discovered through its proprietary platform that are advancing to the clinic, as well as productive collaborations with Merck, AbbVie, Gilead, and Bristol Myers Squibb across a wide range of diseases.
For more information, visit: www.dragonflytx.com https://www.linkedin.com/company/dragonfly-therapeutics-inc./ https://twitter.com/dragonflytx
DRAGONFLY MEDIA CONTACT: Anne Deconinck | anne@dragonflytx.com
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