Bristol-Myers, Compugen to Collaborate on Advanced Solid Tumors
October 11 2018 - 7:50AM
Dow Jones News
By Colin Kellaher
Bristol-Myers Squibb Co. (BMY) and Compugen Ltd. (CGEN) Thursday
said they will evaluate the safety and tolerability of Compugen's
COM701 antibody in combination with Bristol-Myers' cancer drug
Opdivo in patients with advanced solid tumors.
As part of the collaboration, Bristol-Myers will invest $12
million in Compugen, buying 2.42 million shares of the Israel-based
therapeutic discovery and development company at $4.95 apiece.
Compugen shares, which closed Wednesday at $3.25, surged 17% to
$3.80 in premarket trading Thursday.
The companies said Compugen will sponsor an ongoing two-part
Phase 1 trial that includes evaluating the combination of COM701
and Opdivo in four tumor types, including non-small cell lung,
ovarian, breast and endometrial cancer. The collaboration is also
designed to address potential future combinations, including trials
sponsored by Bristol-Myers, the companies said.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
October 11, 2018 07:35 ET (11:35 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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