This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Bristol, Celldex Collaborating on Cancer Immunotherapy Study

NEW YORK (TheStreet) -- Bristol-Myers Squibb (BMY - Get Report) and Celldex Therapeutics (CLDX - Get Report) are collaborating to conduct a single clinical trial combining their respective experimental cancer immunotherapies, the companies announced Wednesday.

The phase I/II study will combine Bristol's PD-1 checkpoint inhibitor nivolumab with Celldex's CD27-targeted antibody varlilumab, also known as CDX-1127. Multiple tumor types will be treated, including non-small cell lung cancer, melanoma, ovarian, colon and head-and-neck cancer.

Similarly, AstraZeneca (AZN - Get Report) and Incyte (INCY - Get Report) will study a combination of their immuno-oncology compounds in multiple tumor types, the companies also announced Wednesday.

The Bristol-Celldex collaboration is somewhat unusual in that it applies only to this single clinical trial. Bristol is paying Celldex $5 million but the cost of the study is split between the two companies. Celldex will run the study, which is expected to start in the fourth quarter. 

Celldex retains full ownership rights to varlilumab but Bristol does have a time-limited option to license the drug, if Celldex chooses to seek a full-time partner. 

In some ways, Bristol and Celldex working together represents a family reunion. Celldex was spun out of Medarex in 2003. In 2009, Bristol acquired Medarex, which originally developed the already-approved skin cancer immunotherapy Yervoy and nivolumab. Under the new collaboration, Bristol has agreed to wave some milestone payments and reduce royalty rights that would have been due from Celldex from old agreements dating back to the Medarex spin out. 

Nivolumab works by removing a cloaking mechanism used by cancer cells to hide from the body's immune system. Bristol intends to file nivolumab for FDA approval as a new treatment for advanced lung cancer before the end of the year. The company is conducting more than 35 trials of nivolumab monotherapy or in combination with other therapies across multiple tumor types. Some new nivolumab clinical data will be unveiled tonight when the American Society of Clinical Oncology (ASCO) releases research abstracts ahead of its annual meeting starting on May 31.

Celldex's varlilumab is a monoclonal antibody that targets CD27, a molecule which activates T cells and induces a strong anti-tumor response.  

Celldex shares are up 24% to $15.14 in Wednesday trading.

Adam Feuerstein writes regularly for TheStreet. In keeping with company editorial policy, he doesn't own or short individual stocks, although he owns stock in TheStreet. He also doesn't invest in hedge funds or other private investment partnerships. Feuerstein appreciates your feedback; click here to send him an email.


Chart of I:DJI
DOW 17,750.91 -140.25 -0.78%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

Adam's Tweets

Select the service that is right for you!

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
Real Money Pro

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Trifecta Stocks

Trifecta Stocks analyzes over 4,000 equities weekly to find the elite 1% of stocks that pass rigorous quantitative, fundamental and technical tests.

Product Features:
  • Model portfolio
  • Trade alerts
  • Recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Growth Seeker

Chris Versace, using sophisticated stock screening and fundamental research, identifies potentially explosive small and mid-cap stocks.

Product Features:
  • Model portfolio
  • Small-cap and mid-cap focus
  • Intraday trade alerts
  • Weekly roundups
Daily Swing Trade

Master swing trader Alan Farley uses his sophisticated software screens to review thousands of stocks each day for you, to find just the handful that meet his demanding criteria.

Product Features:
  • Daily commentary and coaching on swing trading
  • Technical charts and analysis
Top Rated Stocks Top Rated Funds Top Rated ETFs