The goal of the collaboration between Tubulis and Bristol Myers Squibb is to develop differentiated antibody-drug conjugates, so-called ADCs, for use in the treatment of cancer. Munich startup Under the agreement, BioNTech will receive an upfront payment of $22.75 million, plus potential milestone payments of over $1 billion for development, regulatory approval and commercialization, as well as royalties on the resulting marketed products.
Bristol Myers Squibb: “Promising role in cancer therapy”
“This strategic agreement with Bristol Myers Squibb is an important validation of the potential of our approach to developing next-generation ADC-based therapeutics, as well as our cutting-edge ADC conjugation technologies that enable advanced ADC design to treat tumors with high unmet medical need,”
says Dominik Schumacher, CEO and co-founder of Tubulis.
"We are committed to changing treatment paradigms in oncology and delivering better outcomes for cancer patients. Joining forces with BMS, a global leader in oncology, is a significant step toward achieving this goal."
Emma Lees, head of cancer research at Bristol Myers Squibb, says:
“ADCs play a promising role in cancer therapy, and Tubulis’ differentiated technologies offer the opportunity to overcome current challenges in developing safe and effective ADC therapeutics.”
Tubule has the Munich Startup Insights According to the company, 72 million euros in investments had already been raised before the deal, most recently in May last year 60 million euros as part of its Series B round.
