#ESMO22: Here are the disastrous data that crushed hopes for a $3.6B Bristol Myers combo deal

09 Sep 2022
endpts.com
PARIS — A little more than four years after Bristol Myers Squibb proudly unveiled a $3.6 billion, next-gen I/O alliance with Nektar, including about half of that in cold, hard cash, investigators have turned up at ESMO with the full set of disastrous Phase III data that helped ice the whole deal.
We learned back in March that Opdivo plus NektarNektar’s IL-2 therapy bempeg flunked a Phase III melanoma study. Now we’re learning that the combo actually performed significantly worse than Opdivo alone, while raising added safety threats for the patients in the combo arm.
The combo vs. solo Opdivo highlights:
ORR: 27.7% for the combo; 36% for Opdivo
Median PFS: 4.17 months for the combo; 4.99 months for Opdivo — p value 0.3988
Median OS: 29.67 months for combo; 28.88 months for Opdivo — p value 0.6361
Grade 3/4 AEs: 21.7% for the combo; 10.1% for Opdivo
HR: 1.09
Bristol-Myers lassos the next big thing in I/O, grabs '214 rights in a record $3.6B deal with Nektar
The one-time partners would go on to report additional setbacks weeks later, but the writing was on the wall with the PIVOT IO 001 trial outcomes.
Nektar would go on to execute a major restructuring, laying off hundreds of staffers. Bristol Myers would continue to push ahead on Opdivo, forced to watch Merck surge far, far ahead with its more effective development strategy.
In that sense, the damage was far greater than a setback for a single trial.
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