Harbour BioMed, Bristol Myers More Than $1.1 Bln Deal For Next-Gen Multi-Specific Antibodies

(RTTNews) - Harbour BioMed (2142.HK) announced that it has entered into a multi-year, global strategic collaboration and license agreement with Bristol Myers Squibb. The partnership aims to discover and develop next-generation multi-specific antibodies.

Under the terms of the agreement, Harbour BioMed will work closely with Bristol Myers Squibb to advance and accelerate multi-specific antibody discovery programs. In exchange, Harbour BioMed is eligible to receive payments totaling $90 million, along with additional development and commercial milestone payments of up to $1.035 billion. The agreement also includes tiered royalties, should Bristol Myers Squibb choose to advance all potential programs.