Published: July 06, 2011
Bristol-Myers Squibb and Innate Pharma Announce Breakthrough Global License Agreement for an Investigational Immuno-Oncology Biologic
PRINCETON, N.J. & MARSEILLE, France - (BUSINESS WIRE) - Bristol-Myers
Squibb Company (NYSE: BMY) and Innate
Pharma S.A. (Euronext Paris: FR0010331421, IPH) today announced a
global agreement for the development and commercialization of IPH2102, a
novel antibody in Phase I development for the treatment of cancer.
Under the terms of the agreement, Innate Pharma will grant to
Bristol-Myers Squibb exclusive worldwide rights to develop, manufacture
and commercialize IPH2102 and related compounds blocking KIR receptors.
The agreement covers all potential indications for IPH2102. Innate
Pharma will continue to develop IPH2102 in acute myeloid leukemia (AML)
through to the end of Phase II. Innate Pharma will also provide
pre-clinical support for the development of IPH2102. Bristol-Myers
Squibb will fund the development of IPH2102, make an upfront payment of
$35 million and additional payments of up to $430 million, depending on
the achievement of pre-specified milestones during the development and
commercialization period, as well as pre-specified tiered double-digit
royalty payments on worldwide net sales.
"Bristol-Myers Squibb is dedicated to helping patients prevail over
cancer," said Francis
Cuss, senior vice president, Research, Bristol-Myers Squibb. "To
help us in this mission, we are very pleased to join forces with Innate
Pharma which has developed a deep understanding of the immune system.
Working together we have the opportunity to develop IPH2102, a potential
first-in-class biologic that may be able to harness a patient's immune
system in the fight against cancer."
"Bristol-Myers Squibb's String of Pearls strategy seeks to establish
collaborations with leading innovator companies across the globe" said
Mike Seeley, general manager, France, Bristol-Myers Squibb. "We are
excited to establish an important such collaboration in France with
Innate Pharma, a pioneer in the field of innate immunity. This
collaboration highlights our commitment to France, the French biotech
community and to immuno-oncology, an area in which Bristol-Myers Squibb
has developed a robust pipeline including ipilimumab."
"This agreement is the largest biotech licensing deal ever signed in
France. Entering such a collaboration with Bristol-Myers Squibb gives
Innate Pharma a strong validation of the key concepts of its science" ,
said Herve Brailly, Chief Executive Officer, Innate Pharma. "Bristol
Myers Squibb is a global leader in the field of immuno-oncology and
therefore the best possible partner to fully realize the potential of
IPH2102 and we look forward to this collaboration."
Conference call: Innate Pharma's management team will
be hosting a conference call to discuss this agreement on Thursday
7 July, 2011 at 14:00 CET, 13:00 BST, 08:00 EDT.
Investors, journalists and financial analysts are invited to
participate in the conference call by dialing:
France - +33 (0)1 70 99 42 87
UK - +44 (0)20 7136 2054
USA - +1 212 444 0895
Access Code: 9124296
The conference call will be hosted in English. A replay of the
call will be available for 7 days.
Replay Access Number: France - +33 (0)1 74 20 28 00,
UK - +44 (0)20 7111 1244, USA - +1 347 366 9565. Replay Access Code:
9124296#
About IPH2102
IPH2102 is a fully human monoclonal antibody blocking interaction
between Killer-cell immunoglobulin-like receptors (KIR) on Natural
Killer (NK) cells with their ligands. By blocking these receptors, it
facilitates activation of NK cells, and, potentially, destruction of
tumor cells by the latter. It is currently being tested in a Phase I
clinical trial in cancer patients.
About Bristol-Myers Squibb
Bristol-Myers Squibb is a global biopharmaceutical company whose mission
is to discover, develop and deliver innovative medicines that help
patients prevail over serious diseases. For more information, please
visit
www.bms.com or follow us on Twitter at http://twitter.com/bmsnews.
About Innate Pharma
Innate Pharma S.A. is a biopharmaceutical company developing
first-in-class immunotherapy drugs targeting innate immunity
checkpoints. Its innovative approach has been validated by license
agreements with Novo Nordisk A/S. and Bristol Myers Squibb, two major
pharmaceutical companies. Learn more about Innate Pharma at www.innate-pharma.com.
Bristol-Myers Squibb Forward-Looking Statements
This press release contains "forward-looking statements" as that term
is defined in the Private Securities Litigation Reform Act of 1995,
regarding the research, development and commercialization of
pharmaceutical products. Such forward-looking statements are
based on current expectations and involve inherent risks and
uncertainties, including factors that could delay, divert or change any
of them, and could cause actual outcomes and results to differ
materially from current expectations. No forward-looking
statement can be guaranteed. Among other risks, there can be no
guarantee that the compound described in this release will move from
early stage development into full product development, that clinical
trials of this compound will support a regulatory filing, or that the
compound will receive regulatory approval or become a commercially
successful product. Forward-looking statements in the press release
should be evaluated together with the many uncertainties that affect
Bristol-Myers Squibb's business, particularly those identified in the
cautionary factors discussion in Bristol-Myers Squibb's Annual Report on
Form 10-K for the year ended December 31, 2010, its Quarterly Reports on
Form 10-Q, and Current Reports on Form 8-K. Bristol-Myers Squibb
undertakes no obligation to publicly update any forward-looking
statement, whether as a result of new information, future events, or
otherwise.
Innate Pharma Forward-Looking Statements
This press release contains certain forward-looking statements.
Although the company believes its expectations are based on reasonable
assumptions, these forward-looking statements are subject to numerous
risks and uncertainties, which could cause actual results to differ
materially from those anticipated. For a discussion of risks and
uncertainties which could cause the company's actual results, financial
condition, performance or achievements to differ from those contained in
the forward-looking statements, please refer to the Risk Factors
("Facteurs de Risque") section of the Document de Reference prospectus
filed with the AMF, which is available on the AMF website (http://www.amf-france.org)
or on Innate Pharma's website.
This press release and the information contained herein do not
constitute an offer to sell or a solicitation of an offer to buy or
subscribe to shares in Innate Pharma in any country.
Bristol-Myers Squibb
Media:
Jennifer Fron Mauer,
609-252-6579
jennifer.mauer@bms.com
or
Investors:
John
Elicker, 609-252-4611
john.elicker@bms.com
or
Innate
Pharma
Media:
M:Communications
Peter Laing, Amber
Bielecka, +44 (0)20 7920 2330
healthcare@mcomgroup.com
or
Investors:
Laure-Hélène
Mercier, +33 (0)4 30 30 30 87
investors@innate-pharma.fr
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