Brief: Molecular Templates Establishes Multi-Target Collaboration With Bristol Myers Squibb For The Discovery And Development Of Next Generation Engineered Toxin Bodies For The Treatment Of Cancer

Molecular Templates

11/02/2021 12:48

Feb 11 (Reuters) - Molecular Templates Inc  MTEM.O :
    * MOLECULAR TEMPLATES ESTABLISHES MULTI-TARGET COLLABORATION
WITH
BRISTOL MYERS SQUIBB FOR THE DISCOVERY AND DEVELOPMENT OF NEXT
GENERATION ENGINEERED TOXIN BODIES FOR THE TREATMENT OF CANCER
    * MOLECULAR TEMPLATES - BRISTOL MYERS TO HAVE OPTION TO
OBTAIN
EXCLUSIVE WORLDWIDE LICENSE TO DEVELOP, COMMERCIALIZE ETBS
DIRECTED TO EACH SELECTED TARGET
    * MOLECULAR TEMPLATES INC - BRISTOL MYERS SQUIBB WILL MAKE
AN
UP-FRONT PAYMENT OF $70 MILLION TO MTEM
    * MOLECULAR TEMPLATES - IS ELIGIBLE TO RECEIVE MILESTONE
PAYMENTS
OF UP TO ABOUT $1.3 BILLION AS WELL AS TIERED ROYALTY PAYMENTS
ON FUTURE SALES

Source text for Eikon:  ID:nGNX8lzZyc 
Further company coverage:  MTEM.O 

 ((reuters.briefs@thomsonreuters.com;))