Flexus flips IDO inhibitors to Bristol-Myers for up to $1.25bn
This article was originally published in Scrip
Bristol-Myers Squibb will pay $800m up front and up to $450m in milestone fees to buy Flexus Biosciences, but all of the immunotherapy developer's assets except for its indoleamine-2,3-dioxygenase-1 (IDO-1) inhibitor program will be spun out into a new company.
You may also be interested in...
There is now a move back to the principle of doing randomized Phase II studies before jumping into Phase III, says CEO Chuck Link, as Roche's Genentech exits broad IDO/TDO deal.
Following termination of pivotal trials in three tumor types testing its in-house IDO inhibitor BMS-986205, Bristol says it is "working quickly" to assess the development of Opdivo with Incyte's epacadostat.
Bristol paid a handsome $1.85bn upfront for access to Nektar's lead immuno-oncology program NKTR-214 to study in combination with its own drugs, but the expense was viewed by some as a smart play versus buying Nektar outright.