Zenas BioPharma Announces Strategic License and Collaboration Agreement with Bristol Myers Squibb to Develop and Commercialize Novel Bi-Functional Antibody Obexelimab; Zenas will Receive $50M Up-Front Cash And Earn-Out Payments
Portfolio Pulse from Benzinga Newsdesk
Zenas BioPharma has entered into a license and collaboration agreement with Bristol Myers Squibb to develop and commercialize obexelimab for autoimmune diseases in several Asian countries. Zenas will receive a $50 million up-front cash payment and additional payments for achieving certain milestones. Bristol Myers Squibb will also make an equity investment in Zenas.
September 05, 2023 | 10:07 am
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Bristol Myers Squibb has entered into a strategic partnership with Zenas BioPharma, which includes an equity investment. This could potentially expand BMY's portfolio in the immunology sector.
The partnership with Zenas BioPharma allows Bristol Myers Squibb to expand its portfolio in the immunology sector, which could potentially lead to increased revenues in the future. The equity investment in Zenas also indicates a long-term commitment to this partnership.
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