Bristol Myers buys Orum Therapeutics’ protein degrader take on ADCs for $100M upfront

Bris­tol My­ers Squibb is fur­ther dig­ging in­to the an­ti­body-drug con­ju­gate wave with a $100 mil­lion up­front deal for a dif­fer­ent take on the tech­nol­o­gy.

The Big Phar­ma is buy­ing an ADC as­set out of Orum Ther­a­peu­tics that at­tach­es a pro­tein de­grad­er to an an­ti­body rather than de­ploy­ing chemother­a­py or an­oth­er cy­to­tox­ic drug.

Bris­tol My­ers will nab an as­set al­ready cleared by the FDA for Phase I test­ing in acute myeloid leukemia and high-risk myelodys­plas­tic syn­dromes. Af­ter the up­front mon­ey, BMS could dish out an­oth­er $80 mil­lion in biobucks for ORM-6151, the com­pa­nies an­nounced Mon­day morn­ing.

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