Bristol-Myers, Compugen To Jointly Evaluate Combination Of COM701 With Opdivo

(RTTNews) - Bristol-Myers Squibb Company (BMY) and Compugen (CGEN) announced a clinical trial collaboration to evaluate the safety and tolerability of Compugen's COM701, an investigational anti-PVRIG antibody, in combination with Bristol-Myers Squibb's programmed death-1 immune checkpoint inhibitor Opdivo (nivolumab), in patients with advanced solid tumors. Bristol-Myers Squibb will make a $12 million investment in Compugen comprised of 2,424,243 shares of Compugen stock purchased at $4.95 per share.

Compugen will sponsor the ongoing two-part Phase 1 trial, which includes the evaluation of the combination of COM701 and Opdivo in four tumor types.