The drug Bristol Myers Squibb pick up, ORM-6151, is an experimental type of antibody drug-conjugate for acute myeloid leukemia and high-risk myelodysplastic syndromes.
Bristol Myers Squibb has acquired Orum Therapeutics' experimental therapy to treat a type of blood cancer for a total value of up to $180 million, the privately held company said on Monday. The therapy, ORM-6151, which helps degrade a specific protein hard to treat previously, has received the U.S. Food and Drug Administration's (FDA) clearance for an early stage study. The deal includes an upfront payment of $100 million and milestone payments, Orum said, without disclosing further details.