Eisai, Bristol Myers cancel cancer ADC partnership

Eisai and Bristol Myers Squibb recently declared the cessation of their joint venture to develop a dual-acting drug aimed at treating lung and ovarian cancer. The decision, revealed by Eisai on Monday, is attributed to Bristol Myers' portfolio prioritization, reflecting measures the company outlined earlier this year in April.

The collaboration, initially established in 2021, involved a total of $650 million in upfront payments, accompanied by up to $2.5 billion in milestone payments. This partnership highlighted Bristol Myers' growing interest in antibody-drug conjugates (ADCs), a class of therapeutics that other pharmaceutical companies have successfully brought to market. However, Bristol Myers itself has not yet introduced any ADCs to the market.

Farletuzumab ecteribulin, the focal point of the collaboration, is an ADC that merges the specificity of engineered antibodies with the potent cancer-fighting properties of chemotherapy. This drug represents Eisai's pioneering effort in this domain. The engineered antibody in farletuzumab ecteribulin targets a protein called folate receptor alpha, which is present in high concentrations in various cancers, including lung and ovarian cancers. This antibody is linked to a chemotherapeutic agent derived from Eisai’s existing breast cancer drug, Halaven.

The development of farletuzumab ecteribulin had progressed to Phase 2 clinical trials, specifically targeting chemotherapy-resistant ovarian cancer and non-small cell lung cancer that has metastasized. These trials were sponsored by Bristol Myers. Additionally, Eisai has been conducting a separate first-in-human Phase 1 trial targeting solid tumors, which includes breast and endometrial cancers, along with lung and ovarian cancers.

In response to the termination of the collaboration, Eisai has committed to accelerating the development of the drug, emphasizing its prioritization to make the treatment available to patients as soon as possible.

For Bristol Myers, the decision to end the partnership aligns with broader strategic shifts within the company. Recently, Bristol Myers has engaged in other ADC-related agreements, including an $800 million deal with SystImmune and a $100 million agreement with Orum Therapeutics. Notably, the latter deal involves an antibody combined with a protein degrader drug, diverging from the conventional chemotherapeutic approach.

These moves are part of Bristol Myers’ comprehensive review of its operations, aimed at preparing for upcoming patent expirations on several of its major products. In April, the company announced a significant restructuring plan, which included the layoff of 2,200 employees, amounting to 6% of its workforce, and the discontinuation of 12 experimental drugs.

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