Bristol Myers Squibb could pay Tubulis over $1 billion in milestone payments after inking a deal to develop differentiated antibody-drug conjugates (ADCs) for solid tumors.

Bristol Myers will pay $22.75 million up front to Tubulis for the exclusive rights to access the German biotech’s payloads and P5 conjugation platform for the development of a selected number of ADCs to treat solid tumors.

According to Tubulis, the P5 platform allows rapid generation of ultra-stable ADCs, supported by linker stability and chemical flexibility. Its own lead candidate, TUB-010, is being assessed for lymphoma in preclinical studies.

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“ADCs play a promising role in cancer therapy, and Tubulis’ differentiated technologies offer opportunities to overcome current challenges in the development of safe and effective ADC therapeutics,” said Emma Lees, SVP of Research and Early Development at Bristol Myers. “

“With the P5 platform, we will be able to pair the right antibody with the right payload and thus provide potential for meaningful therapeutic benefits for patients with solid tumors.”

Dominik Schumacher, founder and CEO of Tubulis, described the potential $1+ billion as “an important validation” of his firm’s ADC technology platforms. “We are committed to transforming oncology treatment paradigms and to deliver better outcomes for cancer patients. Joining forces with BMS, a leading global oncology company, is a significant step towards achieving that goal.”

Bristol Myers will assume sole responsibility for development, manufacturing, and commercialization of any resulting ADC candidates.

This is not the first step into the ADC space for Bristol Myers. In 2021, the firm paid $650 million to Eisai to co-develop and manufacture MORAb-202, an ADC treatment for endometrial, ovarian, lung and breast cancers. The firm also has a partnership with China’s LaNova Medicines for an ADC targeting gastrointestinal cancers.