Obsidian Therapeutics Announces Extension of Multi-Year Collaboration Agreement with Bristol Myers Squibb
CAMBRIDGE, Mass., Oct. 27, 2022 /PRNewswire/ -- Obsidian Therapeutics, Inc., a clinical-stage biotechnology company pioneering engineered cell and gene therapies, today announced that Bristol-Myers Squibb (NYSE:BMY) has opted to extend the term of the parties' multi-year strategic collaboration for the discovery and development of novel, regulated cell therapies that utilize Obsidian's cytoDRiVE® technology for the controlled expression of the immune enhancer CD40L. Today's announcement builds on the existing relationship between Obsidian and Bristol Myers Squibb, initiated in 2019, and follows the first opt-in decision by Bristol Myers Squibb in 2020.
"We are delighted to extend our productive strategic partnership with Bristol Myers Squibb, an industry leader in the field, to advance next-generation cell therapies to patients with solid tumors and other malignancies," said Paul K. Wotton, Ph.D., Chief Executive Officer of Obsidian Therapeutics. "This announcement comes at an exciting time for Obsidian as our own lead program using cytoDRiVE technology enters the clinic."
This multi-year collaboration extension provides Bristol Myers Squibb with the exclusive option to in-license worldwide rights for cell therapy candidates incorporating Obsidian's cytoDRiVE technology to control the expression of CD40L for the treatment of cancer. Under the terms of the agreement, Obsidian is eligible to receive potential future milestone and royalty payments.
About Obsidian Therapeutics
Obsidian Therapeutics, Inc. is a clinical biotechnology company pioneering engineered cell and gene therapies to deliver transformative outcomes for patients with intractable diseases. Obsidian's proprietary cytoDRiVE® technology provides a way to precisely control the timing and level of protein function by using FDA approved small molecules. Obsidian is headquartered in Cambridge, Mass. The Company has collaborations with Bristol Myers Squibb and Vertex Pharmaceuticals. For more information, please visit www.obsidiantx.com and follow us on LinkedIn and Twitter.
Obsidian's lead program, OBX-115, is a novel engineered tumor-infiltrating lymphocyte (TIL) therapy armed with regulated membrane-bound IL15 that is designed to remove the need for concomitant IL2 therapy, a toxic and costly requirement for conventional TILs. OBX-115 preclinical data have demonstrated enhanced TIL persistence, potency and improved tumor control compared to unengineered TILs, which is anticipated to improve clinical outcomes in patients suffering from metastatic melanoma and other solid tumors. FDA granted IND clearance for OBX-115 in July 2022. The Phase I FIH clinical trial for OBX-115 is currently recruiting patients. Information regarding the clinical trial is available at clinicaltrials.gov: NCT05470283.
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SOURCE Obsidian Therapeutics
Company Codes: NYSE:BMY