Zenas BioPharma and Bristol Myers Squibb (BMS) have signed a licence and partnership agreement for the development and commercialisation of the antibody obexelimab to treat autoimmune ailments.

The geographies comprised in the agreement include Australia, Hong Kong, Japan, Singapore, South Korea and Taiwan.  

As per the deal terms, BMS will obtain exclusive rights for the development and marketing of the antibody in these licensed regions.

BMS will make an upfront cash payment of $50m to Zenas in this regard.

Zenas is also entitled to receive milestone payments on meeting specific development, regulatory and commercial goals, in addition to royalty payments on net obexelimab sales in the licensed territories.

BMS will also make an equity investment in Zenas in association with the new deal. 

An investigational bifunctional, non-cytolytic, humanised monoclonal antibody, obexelimab is being analysed as a subcutaneous injection in a Phase III clinical trial for IgG4-related disease. 

It is also being evaluated in a Phase II/III trial for warm antibody auto-immune hemolytic anaemia.

The partnership is part of Zenas’ strategy to deliver immunology-based therapies to patients globally by utilising BMS's capabilities in immune-mediated ailments.

Zenas BioPharma founder and CEO Lonnie Moulder said: “This collaboration marks an important step forward in realising our vision for obexelimab to benefit patients living with autoimmune diseases globally.

“The deeply experienced and passionate team at Bristol Myers Squibb is an ideal partner based on their proven development, regulatory and commercial capabilities in Japan and throughout the licensed territory.”

In June 2023, BMS received approval from the European Commission for Opdivo (nivolumab) plus platinum-based chemotherapy for resectable non-small cell lung cancer.