Companies join forces bringing together Bristol Myers Squibb’s (BMS) deep oncology and clinical development expertise and Tubulis’ differentiated and unique approach to Antibody-Drug- Conjugate (ADC) design with the goal of delivering the true therapeutic potential of ADCs

Tubulis to receive upfront payment of $22.75 million and milestone payments potentially totaling over $1 billion plus tiered royalties on net product sales

BMS to obtain access to Tubulis’ proprietary P5 conjugation and Tubutecan platforms to develop versatile and customizable antibody-drug conjugates for cancer treatment

MUNICH, GERMANY, April 20, 2023 – Tubulis and Bristol Myers Squibb (NYSE: BMY) today announced that they have entered into a strategic license agreement to develop differentiated antibody-drug conjugates (ADCs).