B-MS and Adnexus to develop adnectins

Bristol-Myers Squibb and fellow USA-based Adnexus Therapeutics have entered into a collaboration that will focus on the development and commercialization of clinical candidates from the latter's pipeline of addressable fibronectin proteins, or adnectins, for oncology indications.

Adnectins belong to a new class of targeted therapeutic proteins, which are similar to human fibronectin, that can be synthesized economically in an Escherichia coli-based system, thereby avoiding some of the problems of traditional antibody production. The companies explained that the project would focus on the creation of a set biologic compounds capable of modulating cancer targets of high clinical impact.

Under the terms of the agreement, Adnexus will employ its PROfusion development platform to identify and deliver adnectin candidates for inclusion in up to six of B-MS' research programs. In return, B-MS has agreed to provide funds of approximately $30.0 million over a three-year period. In addition, Adnexus is entitled to receive regulatory milestone payments of up to $210.0 million per product, as well as royalties based on the sale of those that are successfully commercialized. Further financial terms of the deal were not provided.