BMS offers $850M for British Oncolytic Virus
Published on: labiotech.eu, December 22, 2016.
Source: Clara Rodriguez Fernandez
BMS is offering PsiOxus Therapeutics a massive deal to get exclusive rights of an oncolytic virus that could outperform the promising CAR-T therapies. PsiOxus Therapeutics, based in Oxford, develops immuno-oncolytic viruses to treat solid tumors. Its technology attracted a partnership with Bristol-Myers Squibb earlier this year, which is now offering the British biotech an impressive €850M ($886M) deal for the exclusive worldwide rights of NG-348, a next-generation oncolytic virus. BMS will pay PsiOxus €47.7M ($50M) upfront and funding for the preclinical development of NG-348. The rest will come in the form of milestones to be paid as the candidate advances through clinical trials. So what is this technology that has managed to attract such a big deal with a top-level partner despite still being in the pre-clinical stage?