Bristol Myers Squibb has acquired Orum Therapeutics’ ORM-6151 program, a first-in-class anti-CD33 antibody-enabled GSPT1 degrader, receiving FDA clearance for Phase 1. Orum specializes in Dual-Precision Targeted Protein Degradation (TPD² ™) and Targeted Protein Stabilization (TPS² ™). The deal involves an upfront payment of $100 million, with potential milestone payments totaling $180 million. The acquisition reflects Bristol Myers Squibb’s interest in Orum’s innovative approach and signifies a strategic move to leverage targeted protein degraders for cancer treatment via antibody drug conjugates.
Orum Therapeutics (“Orum”), a clinical-stage private biotechnology company pioneering Dual-Precision Targeted Protein Degradation (TPD² ™) and Targeted Protein Stabilization (TPS² ™), today announced that they have entered into a definitive agreement under which Bristol Myers Squibb has acquired Orum’s ORM-6151 program. ORM-6151 is a first-in-class, anti-CD33 antibody-enabled GSPT1 degrader that has received the FDA’s clearance for Phase 1 for the treatment of patients with acute myeloid leukemia or high-risk myelodysplastic syndromes.
“We believe this agreement with Bristol Myers Squibb, a global leader in cancer with a strong legacy in protein degradation, validates Orum’s unique Dual-Precision Targeted Protein Degradation approach, which we pioneered to improve the therapeutic window and realize the full potential of targeted protein degraders through precision delivery to cancer cells via antibody drug conjugates,” said Sung Joo Lee, Ph.D., CEO of Orum Therapeutics. “We are excited that Bristol Myers Squibb has acquired our ORM-6151 program with proprietary GSPT1 degraders, first-in-class targeted protein degraders with the potential to make an impact for patients with cancer.”
Under this transaction, Bristol Myers Squibb has acquired Orum’s ORM-6151 program for an upfront payment of $100 million, and Orum Therapeutics is eligible to receive milestone payments for a total deal value of $180 million. Further details were not disclosed.
Perella Weinberg Partners acted as financial advisor, and Sterne Kessler Goldstein & Fox, and Skadden, Arps, Slate, Meagher & Flom LLP served as legal advisor to Orum Therapeutics.
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