Bristol Myers, BioNTech ink US$ 11.1B cancer deal

USA – Bristol Myers Squibb is investing up to US $11.1 billion in a new partnership with German biotech company BioNTech to develop cutting-edge cancer treatments.

The deal includes an immediate US$ 3.5 billion and aims to bring BioNTech’s latest drug, BNT327, to market – a therapy that could rival Merck & Co’s top-selling cancer drug, Keytruda.

This move strengthens BioNTech’s long-term commitment to cancer research, showing it’s more than just Pfizer’s COVID-19 vaccine partner.

It also reflects the growing interest in a new type of cancer drug that works in two ways: it boosts the immune system and cuts off the tumor’s blood supply.

The announcement caused BioNTech’s stock to jump nearly 17%, reaching its highest value in six weeks.

Both companies confirmed they will co-develop and share profits from BNT327, which is being tested for various solid tumors, including lung cancer. So far, over 1,000 patients have received the drug.

BioNTech CEO Ugur Sahin stated that the deal will expedite the drug’s development and increase its availability to more patients. Bristol Myers adds value with its global experience in clinical trials and drug manufacturing.

The partnership also puts pressure on rivals like Merck, whose Keytruda generated US$ 29.5 billion in sales in 2024 alone.

This new wave of treatments–known as PD-1/VEGF bispecific antibodies–originated in China, and Western pharma giants are rushing to adopt it.

For example, Pfizer recently made a similar deal with China’s 3SBio, while Merck partnered with LaNova Medicines last year.

Industry experts see the Bristol-BioNTech deal as a strong signal that this dual-action treatment approach is gaining momentum.

Earlier this year, BioNTech acquired full rights to BNT327 by acquiring China-based Biotheus for US$ 800 million upfront.

Now, with this new agreement, BioNTech could earn an additional US$ 7.6 billion if development milestones are met. Bristol will also make US$ 2 billion in guaranteed payments by 2028.

Under the terms, both companies will split profits, losses, and development costs equally, making this a true 50/50 collaboration in the fight against cancer.