Shots:

• MTEM to receive $70M up front and is also eligible to receive ~$1.3B as development- regulatory- and sales milestone along with royalties on future sales
• MTEM will be responsible for research activities to discover next-generation ETBs for multiple targets- of which BMS selected the first target. BMS to get an option to obtain an exclusive WW license to develop and commercialize ETBs directed to each selected target
• Following the exercise of the option- BMS would be solely responsible for developing and commercializing the licensed ETBs. The companies will utilize MTEM’s next-generation ETB platform for specific oncology targets

 ­ Ref: GlobeNewswire | Image: Molecular Templates