SystImmune to Receive Milestone Payment from Bristol Myers Squibb Under Iza-Bren Collaboration

Core Insights - SystImmune, Inc. has initiated the treatment of the first patient in the IZABRIGHT-Breast01 study, a global Phase 2/3 registrational study for izalontamab brengitecan (iza-bren) targeting previously untreated triple negative breast cancer ineligible for anti-PD(L)1 drugs, triggering a $250 million payment from Bristol Myers Squibb [1][3] - Iza-bren is a bispecific antibody-drug conjugate that targets EGFR and HER3, developed by SystImmune's parent company in China and in collaboration with Bristol Myers Squibb outside of China [2][4] - The collaboration with Bristol Myers Squibb is expected to yield up to an additional $250 million in near-term payments and up to $7.1 billion based on achieving specific milestones [1][3] Company Overview - SystImmune is a clinical-stage biopharmaceutical company based in Redmond, WA, focusing on innovative cancer treatments, particularly bispecific and multi-specific antibodies, and antibody-drug conjugates [5] - The company has multiple ongoing clinical trials for various solid tumors and a robust preclinical pipeline of potential cancer therapeutics [5] Product Development - Iza-bren's dual mechanism of action involves blocking EGFR and HER3 signals, which are associated with cancer cell proliferation and survival, and releasing a cytotoxic payload upon internalization [4] - The program has received Breakthrough Therapy Designation from the U.S. FDA for treating previously treated advanced EGFR-mutated non-small cell lung cancer [3]