Bristol Myers Squibb...has discontinued development of BMS-986497 (ORM-6151), the CD33-targeting degrader-antibody conjugate (DAC) it acquired from South Korea-based Orum Therapeutics (KOSDAQ: 475830) in 2023, after reviewing Phase I clinical data (AllSci Corp) - Sep 18, 2026 - "BMS informed Orum on September 16, 2026 that it had decided to end the program, extinguishing its obligation to make up to USD 80 million in remaining milestone payments. Orum retains the USD 100 million upfront payment received at closing....BMS did not disclose specific reasons for the discontinuation, and the source disclosure does not state that rights to the asset reverted to Orum. Orum said it will redirect its research and development focus to its internal pipeline and DAC platform."
Discontinued • Acute Myelogenous Leukemia • Myelodysplastic Syndrome
|