Bristol-Myers Squibb gains exclusive option to acquire F-star Alpha and HER2-targeted therapy
Total consideration may reach US$475m
Bristol-Myers Squibb has agreed an exclusive option to acquire F-star Alpha, and gain worldwide rights to its lead asset FS102, an experimental treatment for breast and gastric cancer.
FS102 is a novel Phase 1 ready Human Epidermal growth factor Receptor 2 (HER2)-targeted therapy.
Under the terms of the agreement, Bristol-Myers Squibb will make a payment of up to US$50m for the right to acquire Vienna, Austria-based F-star Alpha and a clinical milestone payment upon initiation of the Phase 1 trial. Bristol-Myers Squibb will be responsible for conducting and funding development of FS102 during the option period. The company can exercise the option to acquire F-star Alpha upon its decision to commence a Phase 2b trial. The total consideration may reach $475m, which includes the $50m, the option exercise fee, and milestone payments upon the commencement of a Phase 3 clinical trial and regulatory approvals in the US and Europe.
'This agreement is consistent with our R&D strategy to develop promising treatments that address areas of high unmet medical need, and provides the opportunity to complement our oncology portfolio with a novel targeted therapy,' said Francis Cuss, EVP and Chief Scientific Officer, Bristol-Myers Squibb.
HER2 is a highly validated target in breast and gastric cancers, and plays a significant role in the growth of tumours and subsequent poor clinical outcome for patients with breast cancer and other solid tumours. Therapies that target HER2 have shown success in improving patient outcomes; however, a high proportion of HER2-positive patients do not respond to currently available treatments, and those who do may eventually develop resistance.
FS102 is a HER2 targeted Fcab that has the potential to eliminate cancer cells through a novel mechanism of action in a biomarker-defined patient population.
