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Dragonfly Therapeutics Announced Sixth Dragonfly TriNKET Opt-in by Bristol Myers Squib; Dragonfly To Receive A $25M Payment And Is Eligible To Receive Potential Future Milestones And Royalties On Net Sales

Benzinga · 01/06/2023 06:07
Dragonfly Therapeutics today announced that Bristol Myers Squibb exercised its option to enter into an exclusive license for a sixth TriNKET Immunotherapy drug candidate, that will bring the total drug candidates licensed by Bristol Myers Squibb to seven including Dragonfly's novel IL12 cytokine DF6002/BMS-986415. Since their original 2017 collaboration focusing on hematology malignancies, the companies have agreed to two additional collaborations which include oncology and neuroinflammation targets. Today's announcement marks the first TriNKET opt-in outside of oncology. Dragonfly to receive a $25 million payment and is eligible to receive potential future milestones and royalties on net sales.