SystImmune to Receive $250M Milestone Payment from Bristol Myers Squibb Under Iza-Bren Collaboration

SystImmune and Bristol Myers Squibb have hit a major milestone, treating the first patient in a global trial of iza-bren for triple negative breast cancer. This triggered a $250M payment from BMS, with up to $7.6B possible in future milestones. Iza-bren, a first-in-class antibody-drug conjugate targeting EGFR and HER3, is being developed globally with strong data from China guiding the effort.