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Bristol-Myers Squibb Company

Drug Names(s): HuLuc63, BMS-901608

Description: Elotuzumab is an investigational Signaling Lymphocyte Activation Molecule (SLAMF7)-directed immunostimulatory antibody. HuLuc63 binds to CS1, a cell surface glycoprotein that is highly expressed on myeloma cells but minimally expressed on normal cells. HuLuc63 may induce anti-tumor effects through antibody-dependent cellular cytotoxicity activity on myeloma cells.

Deal Structure: Bristol-Myers Squibb and PDL
In August 2008, Bristol-Myers Squibb and PDL BioPharma announced an agreement for the global development and commercialization of elotuzumab (HuLuc63).

Under the terms of the collaboration, Bristol-Myers Squibb would pay PDL BioPharma an upfront cash payment of $30 million for the development and marketing rights to elotuzumab and for an option to expand the collaboration to include PDL241 upon completion of pre-agreed preclinical studies. PDL BioPharma could receive additional payments of up to $480 million based on pre-defined development and regulatory milestones and up to $200 million based on pre-defined sales-based milestones for elotuzumab in multiple myeloma and other potential oncology indications.

The companies will share development costs, with Bristol-Myers Squibb providing 80 percent of the funding and PDL BioPharma providing 20 percent. Bristol-Myers Squibb will lead global development activities, and PDL BioPharma will...See full deal structure in Biomedtracker

Partners: AbbVie Inc.

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