SystImmune and BMY Announce Exclusive Agreement For Development And Commercialization Of BL-B01D1; BMY To Pay SystImmune $800M In Upfront Payment, Up To $500M In Contingent Near-Term Payments, With SystImmune Eligible For Up To $7.1B Milestone Payments
Portfolio Pulse from Benzinga Newsdesk
SystImmune and Bristol Myers Squibb (BMY) have entered into an exclusive agreement for the development and commercialization of BL-B01D1. BMY will make an $800 million upfront payment to SystImmune, with the potential for up to $500 million in near-term payments. Additionally, SystImmune could receive up to $7.1 billion in milestone payments.
December 11, 2023 | 9:19 pm
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Bristol Myers Squibb's deal with SystImmune involves a significant financial commitment, including an $800 million upfront payment and potential for additional payments totaling up to $7.6 billion.
The large financial commitment by BMY to SystImmune indicates a strong belief in the potential of BL-B01D1. This deal could signal future growth and revenue streams for BMY, likely leading to positive investor sentiment in the short term.
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