Bristol Myers Squibb Commits up to $11B+ to Work With BioNTech on Solid Tumor Bispecific

Bristol Myers Squibb is investing $3.5B to co-develop BioNTech’s cancer drug BNT327, which targets both PD-L1 and VEGF-A, proteins that help tumors grow and evade the immune system. The deal includes $1.5B upfront, $2B in near-term payments, and up to $7.6B in milestones. This move positions BMS to compete in the fast-growing bispecific antibody space.