BMS Over $900 Million to Help Develop Potential 'Best-in-class' SHP2 Inhibitors

BridgeBio Pharma announced today that it has entered into an agreement with Bristol-Myers Squibb to co-develop and commercialize a potential "best-in-class" SHP2 inhibitor, BBP-398, in oncology.

SHP2 is a protein tyrosine phosphatase that links growth factor, cytokine, and integrin signaling with the downstream RAS/MAPK signaling pathway to regulate cell proliferation and survival. Excessive SHP2 activity is an important factor in the development of various cancers, it is also a mechanism of resistance to various targeted therapies, and it can suppress antitumor immune responses.

BBP-398 is a SHP2 inhibitor jointly developed by BridgeBio and MD Anderson Cancer Center. BridgeBio has partnered with Lian Tuo Bio to conduct clinical development and commercialization of BBP-398 in China and other major Asian markets, in combination with other drugs, for the treatment of solid tumors such as non-small cell lung cancer, colorectal cancer and pancreatic cancer.

Under the agreement, BridgeBio will continue to lead ongoing Phase 1 clinical trials examining BBP-398 as a single agent or as part of a combination therapy. Bristol-Myers Squibb will lead subsequent development and commercialization activities. BridgeBio will receive an upfront payment of $90 million and is eligible to receive development, regulatory and sales milestone payments of up to $815 million.

"We are delighted to expand our collaboration with Bristol-Myers Squibb, which we believe will allow us to reach more difficult-to-treat cancer patients. We believe our SHP2 inhibitors have 'best-in-class' potential. ” said BridgeBio founder and CEO Dr. Neil Kumar.