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.