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The Daily Biotech Pulse: Bristol Myers, BridgeBio Ink Oncology Pact, FDA Nod For Lava Therapeutics Blood Cancer Study And More

Benzinga Real-time News ·  May 12, 2022 20:49

Here's a roundup of top developments in the biotech space over the last 24 hours:

Stocks In Focus

BridgeBio Inks Licensing Pact With Bristol Myers For SHP2 Inhibitor In Oncology

BridgeBio Pharma Inc(NASDAQ:BBIO) has announced an exclusive license withBristol Myers Squibb Co(NYSE:BMY) to develop and commercialize BBP-398 in oncology.

BridgeBio will receive an upfront payment of $90 million, up to $815 million in milestone payments and tiered royalties in the low- to mid-teens.

BridgeBio will retain the option to acquire higher royalties in the U.S. in connection with funding a portion of development costs upon the...

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