BMS-Ambrx collab runs out of steam after FA relaxin med canned

More than 10 years after Bristol Myers Squibb and Ambrx teamed up to develop a couple of programs in type 2 diabetes and heart failure, prospects from the partnership have washed away.

BMS disclosed in its earnings presentation Wednesday the end of phase 2 development for FA relaxin, a program nabbed from Ambrx. A spokesperson for BMS confirmed that the med was being given back to Ambrx and referred further comment to officials there. Representatives from Ambrx did not respond to a request for comment as of publication regarding the therapy's future.

The deal dates back to 2011 when BMS handed over $24 million in upfront cash for the relaxin program and a preclinical med for type 2 diabetes, ARX618. BMS ultimately directed the latter towards nonalcoholic steatohepatitis but culled development in November 2021, saying that the drug, renamed pegbelfermin, was simply not good enough. The move came after the New York pharma got a look at phase 2b data and afterward said it was exploring external options. 

Phase 2 may also be the final resting place of FA relaxin. According to the clinical trial record, the 25-person mid-stage trial consisted of all white people with heart failure at an average age of 64. Two-thirds of treated participants experienced side effects compared to 23% in the placebo group. Two treated patients also came down with COVID-19, including one who experienced disease-related pneumonia. 

Not all is lost, however, between the two companies. Both signed onto an additional pact in 2013 focused on discovering and developing antibody-drug conjugates that cost BMS $15 million upfront with up to $97 million available in biobucks. 

It's unclear whether to not Ambrx will take the baton back after BMS' decision to cull development. The smaller biotech received an undisclosed milestone payment from BMS in 2019 after the relaxin drug launched into phase 1. 

While BMS's cardio pipeline is taking a step back today, the company was handed FDA approval for Camzyos earlier this year, a drug it took over after acquiring MyoKardia in 2020. The med was approved to treat obstructive hypertrophic cardiomyopathy, however, it came with a box warning noting that it increases the risk of heart failure.

The company’s secondary stroke preventative milvexian—a collaboration with Johnson & Johnson's Janssen unit— is also progressing through trials, with BMS slated to present new phase 2 data at the European Society of Cardiology in late August. The company expects to launch a phase 3 trial before year’s end. 

Editor's note: This story was updated at 2:53pm E.T. to include comment from a Bristol Myers Squibb spokesperson.