US biopharmaceutical company Bristol Myers Squibb (NYSE:BMY) and German biotechnology company BioNTech SE (Nasdaq:BNTX) announced on Monday that they have entered into a global partnership to co-develop and co-commercialise BNT327, BioNTech's investigational bispecific antibody targeting PD-L1 and VEGF-A across multiple solid tumour types.

The collaboration features a 50:50 split of development costs and global profits or losses.

BNT327 is currently being evaluated in Phase 3 trials for extensive stage small cell lung cancer and non-small cell lung cancer, with a Phase 3 trial in triple negative breast cancer planned for late 2025. More than 1,000 patients have been treated in ongoing studies.

Bristol Myers Squibb will make an upfront payment of USD1.5bn to BioNTech, with an additional USD2bn in non-contingent anniversary payments through 2028. BioNTech is also eligible for up to USD7.6bn in milestone payments tied to development, regulatory, and commercial achievements.

The candidate combines anti-PD-L1 and anti-VEGF-A mechanisms into a single molecule, with early data suggesting potential clinical synergy across several tumour types. Both companies have the right to independently pursue additional indications and combination therapies involving BNT327.

The partnership aims to accelerate BNT327's regulatory path and commercial rollout by leveraging the two companies' complementary expertise and global infrastructure.