SPOTLIGHT: Adnexus gains $30M in new pact

Bristol-Myers Squibb has committed to give Adnexus $30 million over the next three years and up to $210 million in milestones for each product developed in a new collaboration on new cancer therapies. Adnexus will deploy its PROfusion technology on up to six research programs to identify and deliver pre-clinical Adnectin candidates to Bristol-Myers Squibb. Bristol-Myers Squibb will be responsible for global development and commercialization activities, with Adnexus retaining a limited co-promotion right to the first product to achieve regulatory approval in the United States. Release