Pharma BD Deal Intelligence
Outcome grade pending — assessed 5 years post-close.
Full analysis, sources & comparables →Bristol Myers allies with BioNTech on bispecific cancer drug BNT327, with total deal value up to $11.1 billion including $7.6 billion in development,…
BMS buys into BioNTech bispecific antibody, putting up $1.5 billion to collaborate in multiple cancers. Leerink Partners' Daina Graybosch called out the…
Bristol Myers Squibb paid BioNTech $3.5 billion to co-develop the asset, reflecting pumitamig's potential to replace Keytruda as the backbone of…
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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.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Bristol-Myers Squibb Company / BioNTech SE (this deal) | 2025 | $11.1B | — |
| Bristol-Myers Squibb Company / Medarex Inc. | 2009 | $2.4B | 92 |
| Bristol-Myers Squibb Company / Celgene Corporation | 2019 | $74.0B | 77 |
| Bristol-Myers Squibb Company / MyoKardia Inc. | 2020 | $13.1B | 76 |
| Bristol-Myers Squibb Company / Karuna Therapeutics | 2023 | $14.0B | 76 |
| Bristol-Myers Squibb Company / Ono Pharmaceutical Co., Ltd. | 2011 | — | 76 |
| Bristol-Myers Squibb Company / SystImmune Inc. | 2023 | $8.4B | 71 |
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