With BMS-Biontech deal, value for cancer’s hottest target continues to climb

The price for a PD-(L)1 x VEGF bispecific continues to climb, with Bristol Myers Squibb becoming the latest to enter the space under a deal with Biontech that’s worth at least $3.5 billion.

And that’s only for rights to half of the program’s future revenues. Under a deal announced Monday, Bristol Myers Squibb Co. (NYSE:BMY) and Biontech SE (NASDAQ:BNTX) will co-develop and co-commercialize bispecific PD-L1 x VEGF inhibitor BNT327, with the partners equally sharing development and manufacturing costs, and profits and losses 50/50 on a global basis. ...