By Tess Stynes
Bristol-Myers Squibb Co. (BMY) and Five Prime Therapeutics Inc.
(FPRX) agreed to collaborate on potential combinations of their
investigational immunotherapies to treat six types of cancers.
Five Prime shares rose 14.3% to $18 in recent premarket
trading.
Immunotherapy drugs work by unleashing the body's immune system
to recognize and attack tumor cells. Studies have indicated the
treatments show promise in a widening range of tumor types.
Under the deal, Bristol-Myers Squibb will pay $30 million to
Five Prime upfront and is responsible for study costs. Five Prime
will conduct the trial, expected to begin next year.
The Phase 1a/1b study will evaluate the combination of
Bristol-Myers' Opdivo and Five Prime's FPA008 for patients with
patients with non-small cell lung cancer (NSCLC), melanoma, head
and neck cancer, pancreatic cancer, colorectal cancer and malignant
glioma.
Opdivo is approved in Japan for the treatment of patients with
unresectable melanoma and is being developed for treatment of other
types of cancer.
Bristol-Myers, Merck & Co. (MRK), Roche Holding AG (RHHBY,
ROG.VX) and other pharmaceutical companies are racing to bring new
immunotherapy drugs to what analysts predict will be a
multibillion-dollar market. Bristol-Myers began selling one
immunotherapy drug, Yervoy, for melanoma in 2011, and the drug
generated $960 million in sales last year.
Write to Tess Stynes at tess.stynes@wsj.com
Access Investor Kit for Roche Holding AG
Visit
http://www.companyspotlight.com/partner?cp_code=P479&isin=CH0012032048
Access Investor Kit for Roche Holding AG
Visit
http://www.companyspotlight.com/partner?cp_code=P479&isin=CH0012032113
Access Investor Kit for Bristol-Myers Squibb Co.
Visit
http://www.companyspotlight.com/partner?cp_code=P479&isin=US1101221083
Access Investor Kit for Roche Holding AG
Visit
http://www.companyspotlight.com/partner?cp_code=P479&isin=US7711951043
Subscribe to WSJ: http://online.wsj.com?mod=djnwires