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- Bristol-Myers Squibb (New York Stock Exchange: BMI) Rights to its preclinical cancer drug candidate, an SOS1 inhibitor, have been returned to Schrödinger (Nasdaq:SDGR).
- Schrödinger noted that he had submitted a candidate for development, and Bristol was conducting IND-enabled studies on it.
- The two companies Their collaboration began in 2020, which included a $55 million upfront payment from Bristol and up to $2.7 billion in milestones. The Immunology Objective and the Neuroscience Objective that form part of this Agreement are not affected.
- Part of the reason Bristol ( BMY ) is back with the candidate is that it acquired the SOS1 inhibitor, MRTX0902, currently in Phase 1, through its recent $4.8 billion acquisition of Mirati Therapeutics.
- SOS1 is a protein that regulates the ability of the KRAS gene to cycle through the “on” and “off” phases. KRAS mutations are involved in about one-third of cancer cases.