BMS abandons $100 million Orum degrader-antibody conjugate after early phase-1 results

Bristol Myers Squibb has decided to stop development of the degrader‑antibody conjugate it purchased from Orum Therapeutics for $100 million after reviewing data from a phase‑1 trial.

The experimental therapy, known as ORM‑6151 or BMS‑986497, links a GSPT1 degrader to an antibody that targets CD33, a protein commonly found on acute myeloid leukemia and myelodysplastic syndrome cells. The design aims to selectively kill those cancer cells by degrading the housekeeping protein GSPT1.

The phase‑1 study, launched in 2024, evaluated ORM‑6151 as a monotherapy and in combination with azacitidine and venetoclax, with the trial originally slated to conclude in February 2027.

BMS’s termination of the program eliminates Orum’s opportunity to earn up to $80 million in milestone payments and reflects a broader trend of project cuts under CEO Christopher Boerner since 2023.