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Home Industry News BMS announces global alliance for treatment of multiple myeloma

BMS announces global alliance for treatment of multiple myeloma

22nd August 2008

Global pharmaceutical company Bristol-Myers Squibb (BMS) has announced an alliance with PDL BioPharma for the development and commericalisation of elotuzumab, an antibody aimed to help treat multiple myeloma.

Multiple myeloma is cancer of the plasma cell and although incurable it is treatable, according to the Multiple Myeloma Research Foundation.

Previously known as HuLuc63, elotuzumab is currently in phase I development and works by binding itself to the CS1 glycoprotein. This allows the immune system to kill myeloma cells and only have minimal effects on other cells.

Currently, the treatment is being trialled both as a monotherapy and in addition to others.

Frances Cuss, senior vice-president and managing director of discovery and exploratory clinical research at BMS, said elotuzumab gives the company a chance to provide an innovative therapy for the unmet needs of multiple myeloma sufferers.

“Consistent with our company’s strategy to integrate external innovation and to expand our capabilities, this collaboration will further strengthen our pipeline of agents targeting hematologic malignancies,” she added.

Terms of the agreement involve BMS paying PDL BioPharma $30 million (16.13 million pounds) in cash for the marketing and development rights, as well as the option to expand the collaboration to include PDL241, which is another CS1 antibody.

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