Bristol-Myers Squibb Company (via Celgene Corporation) / Dragonfly Therapeutics Inc.
2017 · Licensing/Option · $340M · Complete
Announcement Sentiment
88
Strongly positive
Outcome Score
60
Largely worked — most objectives met.
Multi-phase collaboration between Celgene (later BMS after 2019 acquisition) and Dragonfly Therapeutics for TriNKET NK cell engager immunotherapies. The original June 2017 collaboration focused on hematology malignancies. The partnership expanded multiple times: 2018 expansion doubled programs to include solid tumors; 2020 added a $475 million IL-12 program (DF6002/BMS-986415); and by 2023, BMS had opted into six TriNKET drug candidates plus the IL-12 cytokine, for seven total licensed programs spanning hematologic cancers, solid tumors, autoimmune disease, and neuroinflammation. Individual opt-in payments in the $25-28 million range per TriNKET program.