Walking Fish Therapeutics is developing cell therapies from B cells, a type of immune cell that produces prodigious amounts of proteins. Cancer, autoimmune disease, and regenerative medicine are among the targets of the preclinical-stage biotech, which unveiled $50 million in funding.
The acquisition brings Amgen a novel Phase 3-ready drug for gastric cancers. For Five Prime Therapeutics, the deal is a lifeline following a series of clinical and financial setbacks that left much of the biotech’s fortunes resting on its lead antibody drug.
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BMS told Five Prime that it does not have current plans to further sponsor clinical development of the drug cabiralizumab after the failure of the combo trial, with BMS' Opdivo and chemotherapy, but would support some investigator-sponsored trials.