ArsenalBios Says Bristol Myers Squibb Exercises Exclusive License Option For AB-4000 Series Programs

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(RTTNews) - Arsenal Biosciences, Inc., a clinical-stage programmable cell therapy company, announced Monday that drug maker Bristol-Myers Squibb Co. (BMY) has exercised its exclusive license option for ArsenalBios AB-4000 series programs.

Following exercise of the option, Bristol Myers Squibb will be solely responsible for developing and commercializing the licensed candidates.

ArsenalBio said it remains eligible for additional milestone payments as the programs and collaboration advance, as well as royalties on potential commercial sales.

The lead collaboration program was generated under the multi-year discovery collaboration signed in December 2020 to advance next-generation T cell therapies for the treatment of solid tumors. Under the deal, ArsenalBio will be responsible for discovering and building preclinical candidates against multiple targets, while Bristol Myers Squibb will have the option to obtain an exclusive worldwide license to develop and commercialize preclinical candidates.

In January 2022, Bristol Myers Squibb exercised an option to initiate a new program, expanding its strategic collaboration with ArsenalBio. In July 2023, Bristol Myers Squibb entered a limited co-exclusive commercial license agreement for the use of ArsenalBio's proprietary TME control technology to potentially increase CAR T therapeutic effects in a limited number of Bristol Myers Squibb cell therapy products.

The companies said the milestone further strengthens the collaboration to advance next-generation T cell therapies for the treatment of solid tumors.

Ken Drazan, ArsenalBios Chairman and CEO, said, "We look forward to continuing our work with Bristol Myers Squibb and progressing the AB-4000 series toward clinical development to potentially benefit patients with solid tumors."

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