On December 12th, Baili Tianheng announced that its wholly-owned subsidiary SystImmune had reached an exclusive licensing and cooperation agreement with BMS for the BL-B01D1 project. BL-B01D1 is a potential first of its kind EGFR/HER3 bispecific antibody drug conjugate (ADC). Both parties will jointly develop and commercialize BL-B01D1 in the United States, and SystImune will reserve its exclusive rights and interests in Chinese Mainland, while BMS will obtain exclusive licenses in other markets around the world.
The announcement shows that after the cooperation agreement takes effect, BMS will make a down payment of $800 million to SystImmune, as well as up to $500 million in recent contingent payments; After achieving development, registration, and sales milestones, SystImmune will receive an additional payment of up to $7.1 billion; The potential total transaction volume can reach up to $8.4 billion.
"The cooperation between Baili Tianheng and globally renowned pharmaceutical company BMS has established the company's industry position in the field of pharmaceutical research and development innovation, and will further enhance its industry influence." Zhang Xinyuan, the research leader of the domestic consulting firm Co Foundation think tank, said in an interview with Securities Daily that with the subsequent execution of the cooperation agreement, strong financial support will help the company increase its research and development efforts and optimize its product line, And through this cooperation, it will also help Baili Tianheng expand its market globally and achieve a global strategic layout.
The announcement shows that BL-B01D1 is an ADC based on bispecific topoisomerase inhibitors, which can target both epidermal growth factor receptor and human epidermal growth factor receptor 3 (EGFR) simultaneously × HER3). At present, the innovative drug is undergoing global multicenter Phase I clinical trials to evaluate its safety and efficacy in patients with metastatic or unresectable non-small cell lung cancer (NSCLC). According to its early clinical research data, BL-B01D1 shows promising anti-tumor activity in non-small cell lung cancer and breast cancer patients with disease progression after standard treatment.
The cooperation agreement shows that both parties will jointly bear the global development costs of BL-B01D1 and share the profits and losses in the US market. SystImune will reserve the exclusive development and commercialization rights of BL-B01D1 in Chinese Mainland through its affiliated companies, and BMS will receive royalties from the net sales in Chinese Mainland. Outside the United States and Chinese Mainland, SystImune will charge a tiered royalty from net sales.
It is reported that SystImmune, a wholly-owned subsidiary of Baili Tianheng, is a clinical stage biopharmaceutical company located in Redmond, Washington, and is committed to developing innovative cancer therapies using its established mature drug development platform. The company focuses on the research and development of bispecific, multispecific antibodies, and antibody drug conjugates (ADCs). BMS is a global biopharmaceutical company with the mission of discovering, developing, and providing innovative drugs to help patients overcome serious illnesses. It is currently listed on the New York Stock Exchange.
A pharmaceutical analyst said anonymously in an interview with Securities Daily reporters: The innovative drug BL-B01D1 developed by SystImmune, a wholly-owned subsidiary of Baili Tianheng, is the third global and China's first dual target ADC candidate drug to enter the clinical research stage. The company's cooperation with globally renowned pharmaceutical company BMS on the aforementioned innovative drugs means that as the research and development level of domestic innovative drugs continues to improve, domestic pharmaceutical and biological enterprises have gradually gained the strength to cooperate with international first-class enterprises After deepening the cooperation between both parties, drawing on and learning from BMS's advanced management experience, research and development technology, and market operation mode, it will help to enhance the overall strength of Baili Tianheng, and also have important significance for improving the overall competitiveness of China's pharmaceutical and biological enterprises