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Autolus Therapeutics Stock Jumps After Bristol Myers Pact For Safety Switch System

  • Autolus Therapeutics plc (NASDAQ: AUTL) has entered into an agreement with Bristol-Myers Squibb Co (NYSE: BMY).

  • The agreement grants Bristol Myers Squibb access to incorporate Autolus' proprietary RQR8 safety switch into an initial set of selected cell therapy cancer programs.

  • Bristol Myers has an option to incorporate the RQR8 safety switch in additional cell therapy programs beyond the initial set of selected programs.

  • Safety switches are designed to allow pharmacological agents to selectively eliminate cell therapy if a patient experiences severe adverse side effects from the treatment.

  • Autolus' proprietary RQR8 switch works by administration with the widely available and approved pharmaceutical antibody, rituximab.

  • Safety switches form part of Autolus' suite of cell programming modules designed to provide precise targeting, controlled, enhanced and sustained CAR T activity in a hostile tumor microenvironment.

  • Autolus will receive an upfront payment with the potential for near-term option exercise fees and development milestone payments.

  • In addition, Autolus would receive royalties on net sales of all Bristol Myers Squibb cell therapy products that incorporate the RQR8 safety switch.

  • Price Action: AUTL shares are up 17.43% at $2.56 on the last check Tuesday.

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