On October 13 2025, Bristol‑Myers Squibb announced that the first patient had been treated in the IZABRIGHT‑Breast01 study, a global Phase 2/3 registration trial of the bispecific antibody‑drug conjugate izalontamab brengitecan (iza‑bren). The milestone triggered a one‑time payment of $250 million from BMY to SystImmune under the 2023 collaboration and exclusive license agreement.
The collaboration, which is jointly developed by SystImmune and BMY outside of China, also allows SystImmune to receive up to an additional $250 million in contingent near‑term payments and up to $7.1 billion in future payments tied to development, regulatory and sales milestones. The IZABRIGHT‑Breast01 study is the first patient‑treated phase of a program that includes multiple ongoing trials in breast, lung, bladder and other solid tumors.
This payment represents a significant financial boost for BMY and demonstrates progress in a high‑potential bispecific ADC platform. The potential for additional multi‑billion‑dollar payments underscores the strategic importance of the partnership and signals confidence in the clinical development of izalontamab brengitecan.
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