BioNTech Licenses Cancer Drug for $11.1 Billion
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Bristol Myers Squibb will pay BioNTech up to $11.1 billion for the rights to a new cancer drug. BioNTech receives an upfront payment of $1.5 billion, plus potential milestone payments of up to $7.6 billion. The companies will share development, manufacturing costs, and profits equally. This significant deal highlights the growing competition in the field of immuno-oncology.
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