Eisai Takes Over ADC After BMS Collaboration Ends

Eisai announced on Monday that it has gained exclusive ownership and responsibility for the investigational antibody-drug conjugate (ADC) farletuzumab ecteribulin, following the termination of its global strategic agreement with Bristol Myers Squibb (BMS). This means Eisai will now independently manage the global development and commercialization efforts for the drug, which is currently undergoing Phase I/II trials in solid tumors. Additionally, farletuzumab ecteribulin is being tested in Phase II trials for ovarian, peritoneal, and fallopian tube cancers, as well as in mid-stage trials for non-small cell lung cancer.

Eisai has expressed its commitment to accelerating the development of farletuzumab ecteribulin, prioritizing it to ensure that it reaches patients as swiftly as possible. As part of the agreement’s termination, Eisai will refund BMS $200 million, representing the unused portion of the initial research and development funding BMS provided under the original deal. The remaining funds will be recorded as other income by Eisai.

The original collaboration between Eisai and BMS was announced in June 2021. It included a $650 million upfront payment from BMS to Eisai, along with an additional $200 million to cover Eisai's research and development expenses. Under the terms of the deal, Eisai was also eligible to receive up to $2.45 billion in various milestone payments related to development, regulatory approval, and commercialization. BMS had acquired the rights to co-develop and co-commercialize farletuzumab ecteribulin—then known as MORAb-202—in specific markets, including the United States, Canada, Europe, Japan, and China.

The decision for Eisai to take sole responsibility for the ADC stems from BMS' ongoing efforts to prioritize its portfolio. In BMS' first-quarter 2024 business report, the company announced a broad "strategic productivity initiative" aimed at achieving cost savings of $1.5 billion by the end of 2025. This strategic reshuffling involves around 2,200 job cuts, optimization of operations, and pipeline reductions. However, at the time of the announcement, farletuzumab ecteribulin was not among the projects BMS decided to discontinue.

Farletuzumab ecteribulin is an investigational ADC designed to target the FRα protein, which is overexpressed in several cancer types. The ADC employs a humanized IgG1 monoclonal antibody to deliver its toxic payload, eribulin, directly to cancer cells. Eribulin acts as a microtubule dynamics inhibitor; once inside the cancer cells, it disrupts cell division and can induce cell death. Additionally, Eisai's ADC has a bystander effect, offering an anti-tumor impact on neighboring cancer cells that may not express FRα.

This development marks an important phase for Eisai as it takes full control of farletuzumab ecteribulin, aiming to bring this potentially impactful treatment to cancer patients worldwide. The company's dedicated focus on the ADC underscores its potential significance in Eisai's broader oncology portfolio, and its commitment to advancing cancer treatment options.

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