BioNTech climbs on cancer drug deal with Bristol Myers

Summit Therapeutics

02/06/2025 12:34

** U.S.-listed shares of German vaccine maker BioNTech 22UAy.DE, BNTX.O rise 13.7% to $108.90 premarket

** BNTX and Bristol Myers Squibb BMY.N announced global partnership to jointly develop and commercialize an experimental cancer drug, BNT327

** BMY will pay BioNTech $1.5 billion upfront, up to $2 billion in non-contingent payments and up to $7.6 billion in additional milestones payments

** BNTX acquired the rights to BNT327 through the purchase of a Chinese firm Biotheus for $800 million upfront and up to $150 million in contingent payments, earlier this year

** The companies said they will share profits and losses from the drug equally

** Shares of cancer drug developers Instil Bio TIL.O jump 41% to $38.01, and Summit Therapeutics SMMT.O up 1.3% at $18.45 premarket

** BNT327 is being tested in several clinical trials for different types of cancer, including lung, breast and small cell lung cancer

** As of last close, BNTX was down 16%, TIL up 41.2%, SMMT up 2% YTD

 (Reporting by Kamal Choudhury in Bengaluru)

 ((Kamal.Choudhury@thomsonreuters.com;))