To develop small molecule targeted protein degrader therapies, public company Bristol (NYSE:BMY) and privately owned biotech SyntheX have signed a cooperation and licensing agreement to work together.
Bristol (NYSE:BMY) will make an upfront payment and investment in SyntheX. The company may earn an additional $550 million in milestone payments and royalties on future product sales.
SyntheX’s platform technologies use genetic engineering to “find functional molecular glues utilizing a pre-specified E3 ligase and a neosubstrate of interest.” This is accomplished by “selecting drugs intracellularly rather than doing in vitro screening,” the business says.
Joint efforts will search for molecular glue breakers.
Take a look at why Nathan Aisenstadt, a writer for Seeking Alpha, thinks BMY stock is a “jewel.”
On Tuesday, Exelixis (NASDAQ:EXEL) said that, as part of an extended trial partnership and supply contract, it would include the use of a combination of cancer medications from Bristol stock in a phase 1b study testing its inhibitor XL092 for the treatment of cancer.
In an extension of a partnership and supply contract in June of last year, EXEL will finance an early-stage trial named STELLAR-002 to compare XL092 to a combination of BMY’s nivolumab and relatlimab medicines.
According to the terms of the June agreement, BMY stock would also provide a combination of nivolumab with two other cancer medications, ipilimumab and bempegaldesleukin.
STELLAR-002’s dose-escalation part is still enrolling patients and administering doses, according to a statement released by EXEL.
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BMY stock has signed a partnership agreement with the small company SyntheX to develop selective protein cleavage agents.
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Author Shariq Khan 
