Bristol-Myers Squibb will have the exclusive option to license and commercialize PROSTVAC, Bavarian Nordic’s investigational Phase III prostate-specific antigen (PSA) in development for the treatment of asymptomatic or minimally symptomatic metastatic castration-resistant prostate cancer (mCRPC). Under terms of the agreement, Bavarian Nordic will receive an upfront payment of €54.2M.
Michael Giordano, Head of Development, Oncology, Bristol-Myers Squibb, said: “While additional treatment options have become available, metastatic castration-resistant prostate cancer remains largely incurable. Our agreement with Bavarian Nordic reflects our commitment to following the emerging science in immuno-oncology and supports our strategy to transform the treatment of cancer across multiple tumor types, lines of therapy and stages of disease.”
Bristol-Myers Squibb has an ongoing Phase III program for YERVOY in prostate cancer, and there are scientific evidences that suggest the evaluation of PROSTVAC in combination with YERVOY, and other agents from Bristol-Myers Squibb’s immuno-oncology portfolio.
Prostate cancer is the second most frequently diagnosed cancer and the sixth most deadly cancer in men. Most deaths will be caused by metastatic castration-resistant prostate cancer, which occurs when the cancer becomes resistant to standard hormonal treatment and spreads from the prostate to other organs in the body. PROSTVAC is a ready to use immuno-oncology agent that stimulates an immune response that attacks prostate cancer cells.
Great news for Bavarian Nordic whose shares rose up by 30% on the news this morning. Check out its profile and other interesting Danish companies at LaBiotechMap 😉