Bristol-Myers Squibb Company / Bavarian Nordic A/S (PROSTVAC program)
2015 · Licensing/Option · $975M · Terminated
Announcement Sentiment
80
Strongly positive
BMS gained an exclusive option to license PROSTVAC, Bavarian Nordic's Phase 3 PSA-targeting cancer immunotherapy. Bavarian Nordic received $60M upfront, with $80M option exercise plus up to $230M survival-tiered, $110M regulatory, and $495M sales milestones. Phase 3 PROSPECT trial later failed to meet OS endpoint (2017).
Key facts
AnnouncedMar 04, 2015
ClosedMar 04, 2015
Deal value$975M
Deal typeLicensing/Option
Therapeutic areaAsymptomatic or minimally symptomatic metastatic castration-resistant prostate cancer (mCRPC)
IndicationsAsymptomatic or minimally symptomatic metastatic castration-resistant prostate cancer (mCRPC)
Key assetsPROSTVAC
MechanismPoxvirus-based PSA-targeting active cellular immunotherapy