Story
Baili Tianheng Unit to Receive $250 Million Milestone Payment From Bristol Myers Squibb
Baili Tianheng (SHA: 688506) announced that its wholly-owned subsidiary, SystImmune, Inc., has triggered a $250 million milestone payment from Bristol Myers Squibb (NYSE: BMY). The payment is part of an ongoing exclusive license and collaboration agreement between the two companies for an investigational cancer therapy.
Clinical Trial Progress
The payment condition was met after their partnered drug candidate, BL-B01D1 (iza-bren), achieved a specified milestone in its global Phase III pivotal clinical trial, named IZABRIGHT-Lung02. According to the filing, SystImmune is expected to receive the funds in the near future, with the final amount subject to deductions for bank processing fees.
Details of the Partnership
AdThis marks the second major milestone payment to SystImmune under the collaboration agreement with Bristol Myers Squibb. The partnership grants BMS an exclusive license for the development and commercialization of the BL-B01D1 program.
Under the terms of the deal, SystImmune remains eligible for substantial future payments. The company could receive up to an additional $7.1 billion if certain development, regulatory, and sales-based milestones are met. However, Baili Tianheng noted that these future payments are contingent on meeting specific conditions and are not guaranteed.
Read next
More on Stocks
FTC Orders Walmart, Uber, Delta to Disclose Data on Personalized Pricing
The U.S. Federal Trade Commission is demanding nine major companies, including leading retail, travel, and gig economy firms, to provide information on how they use consumer data for setting individual prices and wages.
Google Launches Gemini 4 Carbon AI Model to Bolster Cybersecurity Capabilities
Alphabet's Google has unveiled Gemini 4 Carbon, its latest AI model specifically designed for advanced cybersecurity tasks like vulnerability detection and secure code generation. The launch escalates competition with rivals OpenAI and Anthropic in the enterprise AI market.
Oracle Shares Surge After Unveiling $225 Billion Revenue Target for 2030
Oracle stock rose sharply after the company presented a long-term financial outlook targeting at least $225 billion in annual revenue by fiscal 2030, driven by its expanding AI infrastructure business.
DOJ Scrutinizes Nvidia's $12.9B Hugging Face Deal Amid Broader Antitrust Probe, Sources Say
The U.S. Department of Justice is reportedly examining Nvidia's planned $12.93 billion acquisition of AI platform Hugging Face as part of a wider, ongoing antitrust investigation into the chipmaker's market conduct.