Obsidian's platform allows for the development of controllable cell and gene therapies. The technology provides a way to control protein degradation, permitting precise control of the timing and level of protein expression. The cell therapy for which Bristol Myers Squibb is gaining the license provides controlled expression of the immunomodulatory factor CD40L for the development of cell therapies in solid tumors and other malignancies.

This is the first opt-in decision made by Bristol Myers Squibb since the companies announced their collaboration to develop novel cell therapies in January 2019.

Under the agreement, Obsidian is eligible to receive potential future milestone and royalty payments.

Bristol Myers licenses immunotherapy from Dragonfly
Bristol Myers Squibb has paid $12 million to Dragonfly Therapeutics to license a fourth immunotherapy drug candidate from Dragonfly's TrinKet portfolio.

Dragonfly, Bristol Myers Squibb to develop immunotherapies
Dragonfly Therapeutics has entered into a research collaboration with Bristol Myers Squibb to discover and develop novel immunotherapies for multiple...