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Full analysis, sources & comparables →Bristol Myers Squibb has entered a licensing agreement with German biotech Tubulis to develop antibody-drug conjugates using the biotech's P5 conjugation…
Bristol Myers Squibb said it had entered a strategic license agreement with German biotechnology firm Tubulis to develop next-generation antibody-drug…
Bristol Myers Squibb has partnered with Tubulis, a Munich-based biotech, to develop next-generation antibody-drug conjugates in a licensing agreement valued at…
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BMS gained exclusive rights to Tubulis' Tubutecan payloads and proprietary P5 conjugation platform to develop a select number of differentiated ADCs in solid tumors. Tubulis received ~$22.75M upfront with eligibility for milestone payments potentially totaling over $1B plus tiered royalties. Update (May 20, 2025): the first ADC selected by BMS under the agreement entered clinical development — within ~2 years of signing — triggering a development milestone (payment amount undisclosed). Tubulis' two wholly owned programs (TUB-040, TUB-030) advanced into the clinic over the same period.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Bristol-Myers Squibb Company / Tubulis GmbH (this deal) | 2023 | $1.0B | — |
| 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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