September 15, 2020 -- Bristol Myers Squibb has exercised an option to an exclusive worldwide license to a cell therapy candidate based on Obsidian Therapeutics' cytoDrive technology.
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.