Brief: Century Therapeutics, Bristol Myers Enter Collaboration To Develop IPSC-Derived Allogeneic Cell Therapies

Century Therapeutics

10/01/2022 11:59

Jan 10 (Reuters) - BRISTOL MYERS:
    * CENTURY THERAPEUTICS AND BRISTOL MYERS SQUIBB ENTER INTO A STRATEGIC
COLLABORATION TO DEVELOP IPSC-DERIVED ALLOGENEIC CELL THERAPIES
    * BRISTOL MYERS - CENTURY WILL RECEIVE $150 MILLION IN CASH; $100 MILLION
UPFRONT
PAYMENT AND $50 MILLION EQUITY INVESTMENT AT $23.14/SHARE
    * BRISTOL MYERS - CENTURY THERAPEUTICS HAS POTENTIAL FOR ADDITIONAL $3
BILLION IN
PAYMENTS PLUS ROYALTIES
    * BRISTOL MYERS - FIRST TWO PROGRAMS UNDER COLLABORATION WITH CENTURY
INCLUDE A
PROGRAM IN ACUTE MYELOID LEUKEMIA AND A PROGRAM IN MULTIPLE MYELOMA
    * BRISTOL MYERS - CO HAS OPTION TO ADD TWO ADDITIONAL PROGRAMS WHICH CAN BE
NOMINATED SUBJECT TO CERTAIN CONDITIONS AGREED WITH CENTURY IN AGREEMENT
    * BRISTOL MYERS - CENTURY AMENDED AGREEMENTS WITH FUJIFILM CELLULAR DYNAMICS
FOR
JAPANESE RIGHTS FOR PRODUCTS UNDER  COLLABORATION WITH CO
    * BRISTOL MYERS - CENTURY MAY ELECT TO CO PROMOTE THE AML PROGRAM AND ONE OF
THE
ADDITIONAL PROGRAMS IN U.S. FOR NO EXERCISE FEE
    * BRISTOL MYERS - CENTURY WILL BE RESPONSIBLE FOR DEVELOPMENT CANDIDATE
DISCOVERY
AND PRECLINICAL DEVELOPMENT ACTIVITIES
    * BRISTOL MYERS - CENTURY THERAPEUTICS WILL ALSO RECEIVE TIERED ROYALTIES AS
A
PERCENTAGE OF GLOBAL NET SALES IN HIGH-SINGLE TO LOW-DOUBLE DIGITS
    * BRISTOL MYERS - CO TO BE RESPONSIBLE FOR CLINICAL DEVELOPMENT,
COMMERCIALIZATION
ACTIVITIES SUBJECT TO CENTURY’S CO-PROMOTION RIGHTS ON SOME PROGRAMS

Source text for Eikon:  ID:nBw3Wdj67a 
Further company coverage:  BMY.N 

 ((Reuters.Briefs@thomsonreuters.com;))