FameWave Ltd., a privately held group developing CM-24, which is being acquired by Kitov Pharma Ltd. (KTOV), disclosed early Friday a clinical collaboration with Bristol Myers Squibb Company (BMY), pushing shares of Kitov by more than 18% in the pre-market.
Shares of Bristol Myers were up 0.7% in the pre-market.
The collaboration is to evaluate the combination of CM-24, FameWave’s monoclonal antibody targeting the novel immune checkpoint carcinoembryonic antigen-related cell adhesion molecule 1 (CEACAM1), with nivolumab (Opdivo), a PD-1 inhibitor, in patients with non-small cell lung cancer (NSCLC).
FameWave and Bristol Myers Squibb will coordinate on the protocol design for the phase 1/2 clinical trial. Under the terms of the deal, FameWave will fund and sponsor the study and Bristol Myers Squibb will supply nivolumab.
The “collaboration is a crucial step to begin evaluation of CM-24 in combination with a PD-1 inhibitor,” said Michael Schickler, CEO of FameWave. “We look forward to evaluating CM-24 in NSCLC since we believe it has a great potential as a novel immune checkpoint to be used in combination therapies for a variety of hard-to-treat cancers.”