Pharma BD Deal Intelligence
BMS and BioNTech entered a global co-development and co-commercialization partnership for the PD-L1 x VEGF-A bispecific antibody BNT327 (INN: pumitamig; BMS-986545) across multiple solid tumors. Under the agreement (signed June 2, 2025; amended and restated August 15, 2025), BMS pays $1.5B upfront plus $2B in non-contingent anniversary payments through 2028, with up to $7.6B in development/regulatory/commercial milestones (total up to $11.1B), and the parties share global development costs and profits 50/50. The collaboration became effective in Q3 2025 — BioNTech received the $1.5B upfront and recognized BMS collaboration revenue in its Q3 2025 results. Pumitamig is in a broad late-stage program including pivotal Phase 3 ROSETTA Lung-01 (1L extensive-stage SCLC) and Phase 2/3 ROSETTA Lung-02 (1L NSCLC), with ROSETTA Breast-01 (1L TNBC), ROSETTA CRC-203 and ROSETTA GI-204 planned/initiated.