Dragonfly Therapeutics announces new research collaboration with Bristol Myers Squibb to develop new therapeutic candidates for multiple sclerosis and neuro-inflammation targets

Dragonfly grows beyond its existing collaboration with Bristol Myers Squibb in the oncology and autoimmune disease sector to develop candidate drugs against multiple targets using its proprietary platform in new therapeutic areas

WALTHAM, Massachusetts, July 6, 2020 / PRNewswire / - Dragonfly Therapeutics, Inc. ("Dragonfly") today announced a new research collaboration with Bristol Myers Squibb to discover and develop Dragonfly's new immunotherapies for multiple sclerosis and neuro-inflammation targets.

Under the agreement, Dragonfly will grant Bristol Myers Squibb the option to license exclusive world-class intellectual property rights to multiple candidates developed using Dragonfly's proprietary platform for multiple new targets. Bristol Myers Squibb will pay Dragonfly an advance payment of $ 55 million, and Dragonfly may receive additional development-related payments, regulatory and sales milestones, plus potential royalties on sales and approved products.

"We are delighted to expand our research collaboration with Dragonfly in new therapeutic areas, beyond oncology and autoimmune diseases, to include multiple sclerosis and neuro-inflammation, and to work with the team to carry out the development of candidate drugs that may serve to provide new therapies for patients, "said Richard Hargreaves , senior vice president of neuroscience at Bristol Myers Squibb.

"Bristol Myers Squibb was our first partner, and their team has been a spectacular piece to work with. We are delighted to move towards new indications for our platform and to see inspiration about the opportunity to help patients with multiple sclerosis and diseases neuro-inflammatory, "explained Bill Haney, co-founder and CEO of Dragonfly Therapeutics.

About Dragonfly
Dragonfly Therapeutics is committed to discovering, developing, and marketing therapies that use its innovative TriNKET ™ technology to harness the body's innate immune system and provide patients with revolutionary treatments.

For more information visit the website:

www.dragonflytx.com  
https://twitter.com/dragonflytx  
https://www.linkedin.com/company/dragonfly-therapeutics-inc./

Dragonfly Media Contact: Anne Deconinck  anne@dragonflytx.com

 

Source: prnewswire.com

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