JAN 10, 2022: “Century Therapeutics and Bristol Myers Squibb announced a research collaboration and license agreement (the “agreement”) to develop and commercialize up to four induced pluripotent stem cell (“iPSC”) derived, engineered natural killer cell (“iNK”) and / or T cell (“iT”) programs for hematologic malignancies and solid tumors.
The first two programs include a program in acute myeloid leukemia and a program in multiple myeloma, which could incorporate either the iNK or a gamma delta iT platform.
Bristol Myers Squibb has the option to add two additional programs which can be nominated subject to certain conditions agreed with Century in the agreement.
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“We are pleased to partner with Bristol Myers Squibb, a global leader in oncology and hematology, to further expand our pipeline of iPSC-derived cell therapy products for challenging hematological and solid tumor malignancies,” said Lalo Flores, Chief Executive Officer, Century Therapeutics.
“Bristol Myers Squibb is an ideal partner for us because they bring extensive clinical development and scientific expertise in cell therapy that will increase the probability of technical success of these programs.
Additionally, this collaboration will enable deployment of our next-generation iPSC platform to develop products targeting malignancies that are difficult for biotech companies to tackle on their own.”
“The collaboration with Century Therapeutics is an important part of our investment strategy in next-generation cell therapies for hematologic and solid tumors,” said Rupert Vessey, M.A., B.M., B.Ch., F.R.C.P., D.Phil., Executive Vice President & President, Research & Early Development, Bristol Myers Squibb.
“Century’s iPSC-based gamma delta T and NK cell platforms show promise and are complementary to Bristol Myers Squibb’s existing cell therapy technologies.
We look forward to exploring the full potential of the iPSC approach to develop potentially best-in-class allogeneic cell therapies to help patients with hematologic and solid tumor malignancies.”
Terms of the Collaboration
Century will be responsible for development candidate discovery and preclinical development activities.
Thereafter, Bristol Myers Squibb will be responsible for clinical development and commercialization activities subject to Century’s co-promotion rights on certain programs.
Under the terms of the agreement, Century will receive a $100 million upfront payment and Bristol Myers Squibb will make a $50 million equity investment in Century Therapeutics’ common stock at a price of $23.14 per share.
In addition, Century will receive reimbursement of certain preclinical development costs for development candidates licensed by Bristol Myers Squibb, and is eligible for additional payments for future program initiations and development, regulatory, and commercial milestone payments totaling more than $3 billion across the four potential programs.
Century will also receive tiered royalties as a percentage of global net sales in the high-single to low-double digits.
In addition, under the agreement, Century may elect to co-promote the AML program and one of the additional programs in the United States for no exercise fee which will also trigger enhanced U.S. royalties.
As part of this transaction, Century has amended its agreements with FUJIFILM Cellular Dynamics for Japanese development and commercialization rights for the products under the Bristol Myers Squibb collaboration.
Bristol Myers Squibb: Creating a Better Future for People with Cancer
Bristol Myers Squibb is inspired by a single vision—transforming patients’ lives through science. The goal of the company’s cancer research is to deliver medicines that offer each patient a better, healthier life and to make cure a possibility.
Building on a legacy across a broad range of cancers that have changed survival expectations for many, Bristol Myers Squibb researchers are exploring new frontiers in personalized medicine, and through innovative digital platforms, are turning data into insights that sharpen their focus.
Deep scientific expertise, cutting-edge capabilities and discovery platforms enable the company to look at cancer from every angle.
Cancer can have a relentless grasp on many parts of a patient’s life, and Bristol Myers Squibb is committed to taking actions to address all aspects of care, from diagnosis to survivorship.
Because as a leader in cancer care, Bristol Myers Squibb is working to empower all people with cancer to have a better future.”