BMS, Eisai Enter $3.1-Bn Pact for Oncology ADCBy
Bristol-Myers Squibb (BMS) and Eisai have entered into an exclusive global strategic collaboration agreement for the co-development and co-commercialization of Eisai’s MORAb-202, an antibody drug conjugate (ADC), in a $3.1-billion deal ($645 million upfront and $2.45 million in potential milestones).
MORAb-202 combines Eisai’s anti-folate receptor alpha (FRα) antibody and anticancer agent, eribulin, using an enzyme cleavable linker.
Eisai is currently investigating MORAb-202 in FRα-positive solid tumors (inclusive of endometrial, ovarian, lung and breast cancers) in two studies: (1) a Phase I clinical study in Japan and (2) a Phase I/II clinical study in the US. The companies are planning to move into the registrational stage of development for this asset as early as next year (2022).
Under the agreement, Eisai and BMS will jointly develop and commercialize MORAb-202 in the following collaboration territories: Japan; China; countries in the Asia-Pacific region (South Korea, Taiwan, Hong Kong, Macau, Philippines, Vietnam, Lao People’s Democratic Republic, Thailand, Cambodia, Malaysia, Singapore, Indonesia, India, Australia, New Zealand); the US; Canada; Europe, including the European Union and the UK; and Russia. BMS will be solely responsible for developing and commercializing the drug in regions outside of the collaboration territories. Eisai will remain responsible for the manufacturing and supply of MORAb-202 globally.
Under the agreement, BMS will pay $650 million to Eisai, including $200 million as payment toward Eisai research and development expenses. Eisai is also entitled to receive up to $2.45 billion in potential future development, regulatory, and commercial milestones. The parties will share profits, research and development, and commercialization costs in the collaboration territories, and BMS will pay Eisai a royalty on sales outside of the collaboration territories. Eisai is expected to book sales of MORAb-202 in Japan, China, countries in the Asia-Pacific region, Europe and Russia. BMS is expected to book sales of MORAb-202 in the US and Canada.