BioNTech and Bristol Myers Squibb Forge $11.1 Billion Global Partnership to Advance Bispecific Cancer Antibody BNT327 Across Multiple Solid Tumor Types
In a move that signals a major step forward in the fight against some of the most challenging forms of cancer, BioNTech SE (Nasdaq: BNTX) and Bristol Myers Squibb have announced a wide-ranging global partnership centered on the clinical development and commercialization of BNT327, BioNTech’s next-generation bispecific antibody candidate. The collaboration reflects both companies’ ambitions to revolutionize cancer treatment by advancing novel, multimodal immuno-oncology approaches beyond current checkpoint inhibitors.
The alliance, unveiled on June 3, 2025, grants both parties co-development and co-commercialization rights to BNT327, a bispecific therapeutic antibody that simultaneously targets PD-L1 (programmed death-ligand 1) and VEGF-A (vascular endothelial growth factor A)—two proven and validated pathways in cancer immunotherapy and anti-angiogenesis, respectively. The strategic agreement aims to build a new therapeutic backbone for a broad range of solid tumor types, enhancing the way oncologists treat cancer across multiple lines of therapy and combinations.
BNT327: A Promising Bispecific Weapon in the Oncology Arsenal
BNT327 is currently in late-stage clinical development and is one of the most advanced candidates in BioNTech’s immuno-oncology pipeline. The molecule is engineered to inhibit PD-L1, a key immune checkpoint that cancer cells exploit to escape immune surveillance, while simultaneously blocking VEGF-A, a signaling protein that promotes tumor angiogenesis and progression. By targeting both of these mechanisms within a single molecular entity, BNT327 offers a potentially synergistic approach that may enhance immune activation and tumor suppression more effectively than either pathway alone.
The drug candidate is being actively evaluated in several Phase 3 clinical trials, including registrational studies in extensive-stage small cell lung cancer (ES-SCLC) and non-small cell lung cancer (NSCLC). These late-stage studies are assessing BNT327 as a first-line treatment in settings where patients typically have limited options and poor prognoses. Additionally, a Phase 3 trial in triple-negative breast cancer (TNBC)—a notoriously aggressive and hard-to-treat subtype—is slated to begin by the end of 2025. Collectively, BNT327 has already been administered to over 1,000 patients across multiple global studies, indicating a substantial investment in clinical validation and safety profiling.
Early data from ongoing trials have reinforced the therapeutic rationale behind combining PD-L1 and VEGF-A blockade, with preliminary efficacy results suggesting that BNT327 may offer improved outcomes in comparison to standard monotherapies. These findings have set the stage for an ambitious clinical program aimed at capturing a broad swath of solid tumor indications.
A Strategic Alliance Rooted in Shared Vision and Complementary Strengths
Under the terms of the collaboration, BioNTech and Bristol Myers Squibb will jointly oversee the global development and commercialization of BNT327. Both companies have agreed to co-invest in R&D and manufacturing activities, splitting these costs equally (50:50), with certain exceptions. Likewise, the profits and losses from global commercialization will be equally shared, demonstrating a balanced and deeply integrated commitment from both organizations.
Each partner will also retain the independent right to develop BNT327 for additional indications and in combination with other agents, including their own proprietary assets. This flexible structure enables both BioNTech and BMS to explore broader combination strategies tailored to their internal pipelines, further enhancing the molecule’s clinical utility and commercial potential.
The financial scope of the deal is equally notable. Bristol Myers Squibb will provide BioNTech with a $1.5 billion upfront payment, and an additional $2 billion in non-contingent anniversary payments spread through 2028. These payments, considered tax-deductible acquired in-process R&D expenses (IPR&D), will be recorded in BMS’s financial statements as incurred, with the entire upfront payment to be accounted for in Q2 2025. Furthermore, BioNTech stands to earn up to $7.6 billion in development, regulatory, and commercial milestone payments, bringing the total potential value of the deal to $11.1 billion.
Executive Perspectives: Transforming Cancer Care
Leaders from both companies emphasized the transformational potential of BNT327 and the rationale behind their strategic partnership.
Professor Ugur Sahin, M.D., CEO and Co-Founder of BioNTech, underscored the scientific ambition behind the molecule and the complementary strengths brought by BMS.
“We believe BNT327 has the potential to become a foundational immuno-oncology backbone, moving beyond single-mechanism checkpoint inhibitors and expanding into multiple solid-tumor indications,” said Sahin. “Our collaboration with BMS, a pioneering leader in immuno-oncology, aims to accelerate and broadly expand BNT327’s development to fully realize its potential. Our focus remains on advancing high-impact, pan-tumor programs and combination strategies in oncology, with BNT327 complementing our antibody-drug conjugate programs and mRNA-based immunotherapies. We are dedicated to delivering truly transformative options for patients in need.”
Christopher Boerner, Ph.D., Board Chair and CEO of Bristol Myers Squibb, echoed this sentiment and highlighted the alignment with BMS’s broader oncology mission.
“Our deep experience and expertise in advancing and delivering groundbreaking immuno-oncology medicines positions BMS well to collaboratively realize the potential of BNT327, an asset with significant potential for transforming the standard of care for patients with solid tumors,” Boerner stated. “The science behind BNT327 and its leading clinical position in multiple hard-to-treat tumor types further bolsters our pursuit of novel mechanisms and multiple modalities in oncology and enhances our growth trajectory. We are impressed by the innovation that BioNTech has achieved to date and look forward to accelerating the path to market for this important asset.”
A New Chapter in Cancer Drug Development
The BioNTech-BMS collaboration comes at a critical moment in the evolution of cancer therapy. The last decade has witnessed the remarkable rise of checkpoint inhibitors, but many patients eventually develop resistance, and a sizable portion do not respond at all. As a result, oncologists and researchers have turned their attention to next-generation immunotherapies that can simultaneously target multiple immune escape mechanisms or combine immune modulation with other treatment modalities.
BNT327 is emblematic of this shift. As a bispecific antibody, it offers the promise of combining two proven therapeutic strategies—immune checkpoint inhibition and anti-angiogenesis—into one streamlined treatment, potentially reducing the need for multiple injections or combination regimens with additive toxicity. If successful in ongoing trials, BNT327 could become a new standard of care for various difficult-to-treat cancers.
Moreover, the deal provides BioNTech with a significant financial runway to continue advancing its broader oncology pipeline, which includes antibody-drug conjugates (ADCs), mRNA vaccines, and other immunotherapeutic platforms. For Bristol Myers Squibb, it strengthens the company’s commitment to diversifying its oncology portfolio with novel biologics and reinforces its leadership position in the rapidly evolving immuno-oncology field.
As the companies move forward, all eyes will be on the clinical readouts from ongoing and future trials. The success of BNT327 could have wide-ranging implications—not just for BioNTech and Bristol Myers Squibb, but for the entire oncology community. By targeting two pivotal pathways in tumor biology within a single construct, BNT327 represents a bold leap toward more comprehensive and effective cancer therapies.
With regulatory filings potentially on the horizon pending successful Phase 3 results, and a robust development plan in place for expanding into other indications, this alliance may prove to be one of the most impactful oncology partnerships of the decade.
