BMS to pay Orum Therapeutics $100M for ADC

Nov. 6, 2023

Bristol Myers Squibb will acquire South Korea-based Orum Therapeutics' protein degrader program, ORM-6151, with an eye on first-in-class treatments for cancer.

ORM-6151, an anti-CD33 antibody-enabled GSPT1 degrader, has received FDA phase 1 clearance for treating acute myeloid leukemia or high-risk myelodysplastic syndromes. Under the agreement, BMS will pay $100 million upfront for the program, with potential milestone payments totaling $180 million. The deal's specific terms remain undisclosed. 

Orum's GSPT1 platform uses a Dual-Precision Targeted Protein Degradation (TPD²) approach to create tumor-selective targeted protein degraders delivered via antibodies, aiming to enhance cancer treatment. Orum has developed new molecular glue degrader payloads to specifically degrade an intracellular target protein within cancer cells. Conjugated to antibodies, the payloads are designed to be delivered specifically to cancer cells and degrade the intracellular target protein GSPT1 and cause tumor cell death. 

BMS has signed a series of deals over the past few years as the drugmaker continues its push into ADCs. Back in April, BMS signed a deal with Tubulis, to get access to the German biotech's proprietary conjugation platform. The deal included an upfront payment of $22.75 million to Tubulis in addition to the potential for over $1 billion in milestone and royalty payments. Back in 2021, the drugmaker signed a potential $3.1 billion deal with Japan-based Eisai to jointly develop and market MORAb-202, Eisai’s first ADC for cancer.