Bristol Myers Squibb has decided to discontinue development of the degrader-antibody conjugate it obtained from Orum Therapeutics, a program that originally cost the pharma $100 million. The termination follows an internal review of phase 1 clinical data, though the specific findings were not disclosed.
The asset was part of a deal announced earlier, positioning BMS in the emerging class of degrader-antibody conjugates, which combine antibody targeting with protein degradation. With this decision, BMS forfeits the upfront payment and any potential milestones tied to the program.
Orum Therapeutics has not yet commented publicly on the termination. The move underscores the high-risk nature of early-stage oncology deals, where promising preclinical concepts can fail to translate in human trials.