SystImmune announced the treatment of the first patient in the IZABRIGHT-Breast01 study, a registrational study of izalontamab brengitecan in previously untreated triple negative breast cancer ineligible for anti-PDL1 drugs. This milestone triggered a one-time payment of $250M by Bristol Myers (BMY) Squibb, pursuant to the 2023 collaboration and exclusive license agreement between SystImmune and Bristol Myers Squibb. SystImmune is further eligible to receive up to an additional $250M in contingent near-term payments and additional payments of up to $7.1B contingent upon the achievement of certain development, regulatory and sales performance milestones.
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