Dragonfly Therapeutics Announces Sixth Dragonfly TriNKET Opt-in by Bristol Myers Squibb
(Adnkronos) - Since their original 2017 collaboration focusing on hematology malignancies, the companies have agreed to two additional collaborations which include oncology and neuroinflammation targets. Today's announcement marks the first TriNKET opt-in outside of oncology.
Dragonfly to receive a $25 million payment and is eligible to receive potential future milestones and royalties on net sales.
WALTHAM, Mass., Jan. 6, 2023 /PRNewswire/ -- Dragonfly Therapeutics, Inc., a clinical stage biotechnology company developing novel immunotherapies, today announced that Bristol Myers Squibb exercised its option to enter into an exclusive license for a sixth TriNKET Immunotherapy drug candidate, that will bring the total drug candidates licensed by Bristol Myers Squibb to seven including Dragonfly's novel IL12 cytokine DF6002/BMS-986415. Since their original 2017 collaboration focusing on hematology malignancies, the companies have agreed to two additional collaborations which include oncology and neuroinflammation targets. Today's announcement marks the first TriNKET opt-in outside of oncology.
"We are delighted that our research collaboration initiated with Dragonfly in July 2020 on multiple sclerosis and neuro-inflammation has rapidly produced novel TriNKET drug candidate molecules that may provide new treatment options for patients with neurological diseases" said Richard Hargreaves, Senior Vice President, Neuroscience, Bristol Myers Squibb.
"We believe this opt-in decision by Bristol Myers Squibb further validates our drug discovery platform," said Bill Haney, Dragonfly's CEO. "The ongoing clinical trials of six Dragonfly-developed drugs including our wholly owned solid tumor targeting TriNKETs DF1001 (HER2), now in Phase 2, DF9001 (EGFR), and our BMS-partnered novel IL12 cytokine, underscore the breadth of Dragonfly's portfolio of innovative therapeutics, and potential to help patients with hematological cancers, solid tumor cancers, autoimmune diseases, and neurological conditions."
Dragonfly Therapeutics is a clinical-stage biopharmaceutical company committed to discovering, developing and commercializing therapies that use its novel bispecific antibody technology to harness the body's innate immune system to bring breakthrough treatments to patients. Dragonfly has a deep pipeline of wholly owned preclinical candidates discovered using its proprietary platform that are progressing toward the clinic, as well as productive collaborations with Merck, AbbVie, Gilead and Bristol Myers Squibb in a broad range of disease areas.
For more information visit: www.dragonflytx.com https://www.linkedin.com/company/dragonfly-therapeutics-inc./ https://twitter.com/dragonflytx
DRAGONFLY MEDIA CONTACT:Anne Deconinck | anne@dragonflytx.com
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