Dragonfly Therapeutics Expands Collaboration With Bristol-Myers Squibb
July 06 2020 - 10:25AM
Dow Jones News
By Colin Kellaher
Dragonfly Therapeutics Inc. on Monday said it has expanded its
research collaboration with Bristol-Myers Squibb Co. to include
immunotherapies for multiple sclerosis and neuro-inflammation
targets.
The privately held company said it will grant Bristol-Myers the
option to license exclusive worldwide intellectual-property rights
to multiple candidates developed using its proprietary platform for
multiple new targets.
Dragonfly said it will receive a $55 million upfront payment and
will be eligible to receive additional payments based on
development, regulatory and sales milestones, along with royalties
on sales of approved products.
Dragonfly in 2017 formed a five-year strategic collaboration
with Celgene Corp. targeting oncology and autoimmune diseases.
Bristol-Myers completed its $74 billion acquisition of Celgene last
year.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
July 06, 2020 10:10 ET (14:10 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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