BMS drops Orum’s targeted degrader after Phase 1 results
BMS announced it is ending development of ORM-6151, a degrader‑antibody conjugate acquired from Orum Therapeutics.
The decision follows a Phase 1 trial in acute myeloid leukemia and myelodysplastic syndrome that did not meet expectations, prompting BMS to halt the program per a regulatory filing.
Under the 2023 asset purchase agreement, BMS will not owe further milestone payments and Orum retains the $100 million upfront; the biotech says it will not lay off staff and still has about $180 million cash.
The move highlights the risk inherent in early‑stage targeted degrader programs and may influence investor sentiment toward similar collaborations.
This writeup was produced by pharmadog from original reporting by BioSpace.
Original headline: “BMS scraps Orum’s targeted degrader after reviewing Phase 1 data”
read at BioSpace ↗
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