Dragonfly In The News

Bristol Myers bets $475M cash on a blockbuster shot at breaking the mold in immuno-oncology — with a potential IL-12 game-changer


This morning Bristol Myers R&D maestro Rupert Vessey is taking the wraps off one of the biggest cash deals he’s done, focusing on IL-12, and he’s done it with some players he’s been collaborating with for years. Vessey is handing over $475 million in near-term cash for control of Dragonfly’s extended half-life cytokine DF6002 — a monovalent IL-12 immunoglobulin Fc fusion protein designed to fire up a targeted immune response.


Aiming for immunotherapy boost, Bristol Myers deepens ties with Dragonfly


Dragonfly, an unusual startup backed by a high-powered group of family offices, has partnered with multiple large drugmakers since its formation in 2015 by cancer researcher Tyler Jacks. One of Dragonfly's drugs is DF6002, a modified, longer-lasting version of the inflammatory cytokine IL-12. 


Bristol Myers Squibb to Splash Out $475M on Dragonfly Immunotherapy


Bristol Myers Squibb is paying nearly half a billion dollars in up front and near-term payments to license an early-stage immunotherapy developed by Dragonfly Therapeutics, a firm that’s already a partner on potential treatments in oncology and other disease areas.

New York-based Bristol (NYSE: BMY), which inherited a relationship with the biotech when it acquired Celgene last year, announced terms of the new deal Monday.


Bristol Myers Squibb pens $475M Dragonfly pact for IL-12 program


Bristol Myers Squibb (BMS) is paying nearly half a billion in near-term and upfronts to licence Dragonfly Therapeutics’ interleukin-12 (IL-12) immunotherapy program. This program is the early-stage experimental med DF6002, a monovalent IL-12 immunoglobulin Fc fusion protein, which works by creating an inflammatory tumor microenvironment to boost anti-tumor responses.

Under the pact, BMS gets hold of this drug and is on the hook to develop and sell it, should it gain approval, and plans to test it in both solid and blood cancers.


Dragonfly Therapeutics and Bristol Myers Squibb Announce Exclusive Global License for Dragonfly’s IL-12 Investigational Immunotherapy Program


Bristol Myers Squibb and Dragonfly Therapeutics, Inc., today announced that they have entered into a definitive agreement under which Bristol Myers Squibb will be granted the global exclusive license to Dragonfly’s interleukin-12 (IL-12) investigational immunotherapy program, including its extended half-life cytokine DF6002. DF6002 is a monovalent IL-12 immunoglobulin Fc fusion protein proposed to achieve strong anti-tumor efficacy by establishing an inflammatory tumor microenvironment necessary for productive anti-tumor responses.


Dragonfly Therapeutics Announces BMS Opt-In of Fourth TriNKET™ Immunotherapy Drug Candidate


"We are impressed with the quality of candidates developed using Dragonfly's TriNKET™ technology," said Rupert Vessey, FRCP, DPhil, President of Research and Early Development, Bristol Myers Squibb. "In just three years, Dragonfly delivered four drug candidates to BMS, a remarkable pace of development."


Dragonfly Therapeutics Initiates Phase 1/2 Study of its IL12 Immunotherapy in Patients with Advanced Solid Tumors


Dragonfly, a clinical stage biotechnology company developing novel immunotherapies, today announced it has dosed its first patient in a Phase 1/2 study of the Company's proprietary IL12 investigational immunotherapy, DF6002. 


A booming Dragonfly is taking its TriNKETs to Copenhagen as the latest Bristol Myers pact spurs expansion plans -- outside the US


Bristol Myers Squibb is making a habit out of collaborating with the crew at Dragonfly, adding their 3rd deal in a series that now will take them into newly charted R&D territory. And the fast-growing team at the Cambridge-based biotech is adding a facility in Copenhagen for its next growth spurt, where the government is making it easy to recruit scientists internationally as the U.S. throttles back.


Bristol Myers Pays Dragonfly $55M to Bring NK Cells to Neuro Diseases


Bristol Myers Squibb likes what it sees from the immune cell research of Dragonfly Therapeutics so far—enough to pay $55 million to add multiple sclerosis and neuroinflammation to their ongoing partnership.


Dragonfly Therapeutics Appoints Head of Clinical Development


Dragonfly Therapeutics today announced that Dr. Tapan Maniar has been appointed SVP and Head of Clinical Development and will join the senior team to aid the development of Dragonfly's novel TriNKET™ and cytokine programs. 


Doing deals in a time of coronavirus: Biotech CEO Bill Haney says 'you focus on the things that make a difference'


— Fidelity Management and Research has led a new round for Dragonfly. The new cash brings the total of funds raised from investors and partners to more than $300 million. Then there’s $10 billion more for milestones. Dragonfly has been building their TriNKET technology platform for the innate immune system.


— Merck is expanding their pact with Dragonfly with a $47.5 million payment for upfront and equity to kick up the number of programs they are working on, including new autoimmune drugs.



AbbVie lines up a new preclinical R&D alliance with the dealmakers at natural killer player Dragonfly


Bill Haney is building on his rep as one of the most prolific dealmakers in preclinical R&D, adding a new alliance for Dragonfly Therapeutics with AbbVie on cancer drugs as well as autoimmune diseases — a new field for the upstart developer.



Dragonfly Therapeutics Announces Collaboration with AbbVie for Autoimmune Diseases and Oncology


Dragonfly will use its TriNKET(TM) platform to develop drug candidates directed to multiple targets for autoimmune disorders, and oncology. AbbVie receives exclusive options to license a number of Dragonfly's natural killer (NK) cell engager immunotherapies.



Celgene execs shell out $92M cash for a pair of R&D deals that will fit perfectly in their new home at Bristol-Myers


Today they’re making their first foray into human studies, with the launch of a Phase I study for their lead drug DF1001 in HER2 expressing solid tumors. This is the first of their TriNKET platform drugs to go into humans



Dragonfly Therapeutics Announces Celgene Opt-In of Third TriNKET™ Immunotherapy Drug Candidate


Dragonfly to receive a $12M in-licensing payment and is eligible to receive potential future milestones and royalties on net sales.



Dragonfly Therapeutics Initiates Phase 1/2 Study of DF1001 in Patients with Advanced Solid Tumors


Dragonfly Therapeutics today announced that the first patient was dosed in a Phase 1/2 study of DF1001 at The University of Texas MD Anderson Cancer Center in Houston. Dragonfly's DF 1001 clinical trial is currently recruiting patients with various types of advanced solid tumors that express human epidermal growth factor receptor 2 (HER2).


The Endpoints 11: A group of disruptive upstarts on a do-or-die mission to launch new meds


Over the last 15 years I’ve had the chance to help select about 200 private biotechs for up-and-coming awards like this. Looking over the rank and file of this disruptive crowd, I had my standouts, my OK borderline selections, and some truly dreadful, cringe-worthy choices.



Dragonfly Founders to Lead Disruptors Conversation at Boston Biotech


Every life sciences startup aims to shake up and challenge the status quo. But which Boston companies are taking the most radical approaches and seem poised to become the biggest disruptors? What are their goals, what is their approach to building a great biotech company, and how are the founders working with investors to pursue their disruptive vision? And most importantly, how will their work impact the lives and health of patients?



Dragonfly, Tyler Jacks’s Disney-Backed Startup, Gets $33M in Celgene Deal


Dragonfly Therapeutics, a stealthy startup formed by well-known cancer researchers on both coasts and backed by a high-powered group of family offices, has inked its first partnership. Celgene, of Summit, NJ, is paying Dragonfly $33 million up front for the chance to co-develop up to four blood cancer drugs.



Celgene bags option on NK cell-based blood cancer assets


Celgene has landed an option on four natural killer (NK) cell-based blood cancer therapeutics in a deal with Dragonfly Therapeutics. The agreement sees Celgene hand over $33 million and commit to more in milestones to access next-generation immuno-oncology candidates aimed at some of its core therapeutic areas.



Dragonfly Therapeutics Strikes Immuno-Oncology Deal With Celgene


Dragonfly Therapeutics Inc. has secured $33 million through a collaboration with Celgene Corp. to develop immuno-oncology treatments for various blood cancers.



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