Development of next generation antibody–drug conjugates
Partnership is to utilize Ambrx’s medicinal chemistry technology for the discovery of oncology therapeutics.
Ambrx recently joined a collaboration agreement with Bristol-Myers Squibb to develop and discover novel antibody–drug conjugates. The collaboration will use Ambrx’s protein medicinal chemistry technology and the company is to receive US$15 million funding payment for discovery and research into the conjugates.
Under the terms of the agreement, Ambrx could receive payment milestones of up to $97 million per product for development, regulation and sales. The company will also receive royalties on net sales of the products produced as a result of this partnership. Bristol-Myers Squibb will receive worldwide rights to develop and commercialize the products.
“We look forward to working together to further utilize Ambrx’s technology to discover and advance these antibody drug conjugates for oncology indications,” commented Lawson Macartney, Chief Executive Officer of Ambrx.
This is not the first collaboration between the two companies using Ambrx’s protein medicinal chemistry technology. In 2011, two agreements were made to research, develop and commercialize biologics. The first biologic targets the Fibroblast Growth Factor 21 for the potential treatment of type 2 diabetes and the second targets the Relaxin hormone for potential treatment of heart failure. These are both currently under development by Bristol-Myers Squibb.
“Bristol-Myers Squibb is a global biopharmaceutical leader with expertise developing and commercializing novel medicines for the treatment of cancer and other diseases, and we are pleased to enter into a third collaboration with the company to include another aspect of our technology platform,” added Macartney.
