On October 27, 2022 Obsidian Therapeutics, Inc., a clinical-stage biotechnology company pioneering engineered cell and gene therapies, reported that Bristol Myers Squibb (NYSE:BMY) has opted to extend the term of the parties’ multi-year strategic collaboration for the discovery and development of novel, regulated cell therapies that utilize Obsidian’s cytoDRiVE technology for the controlled expression of the immune enhancer CD40L (Press release, Obsidian Therapeutics, OCT 27, 2022, View Source [SID1234622474]). Today’s announcement builds on the existing relationship between Obsidian and Bristol Myers Squibb, initiated in 2019, and follows the first opt-in decision by Bristol Myers Squibb in 2020.

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"We are delighted to extend our productive strategic partnership with Bristol Myers Squibb, an industry leader in the field, to advance next-generation cell therapies to patients with solid tumors and other malignancies," said Paul K. Wotton, Ph.D., Chief Executive Officer of Obsidian Therapeutics. "This announcement comes at an exciting time for Obsidian as our own lead program using cytoDRiVE technology enters the clinic."

This multi-year collaboration extension provides Bristol Myers Squibb with the exclusive option to in-license worldwide rights for cell therapy candidates incorporating Obsidian’s cytoDRiVE technology to control the expression of CD40L for the treatment of cancer. Under the terms of the agreement, Obsidian is eligible to receive potential future milestone and royalty payments.