Bristol Myers Squibb Ends ORM-6151 Degrader-Antibody Conjugate Program From Orum After Phase 1 Review, Forgoing Up to $80 Million in Milestones
Bristol Myers Squibb has told Orum Therapeutics it is ending development of BMS-986497 (ORM-6151), a degrader-antibody conjugate that pairs a CD33-targeting antibody with a GSPT1 degrader, after reviewing Phase 1 data in acute myeloid leukemia and high-risk myelodysplastic syndrome, Korea Biomedical Review reported on September 18, 2026. BMS bought the program from Orum in October 2023 for $100 million upfront in a deal worth up to $180 million; Orum keeps the upfront payment but is no longer eligible for up to $80 million in remaining milestones. Orum said it was notified unexpectedly and is assessing the situation. It will concentrate on ORM-1153, a CD123-targeting degrader-antibody conjugate for the same indications, for which the FDA has cleared an investigational new drug application.