BMS terminates ETB collaboration with Molecular Templates; termination effective June 13, 2024

Molecular Templates, Inc.

BMS notified Molecular Templates on March 13, 2024 of intent to terminate the Collaboration Agreement entered in February 2021.
Termination becomes effective June 13, 2024; company will reduce costs and focus resources on wholly-owned clinical-stage programs.
Collaboration leveraged Molecular Templates' ETB platform for novel products; BMS cited portfolio prioritization.
Molecular Templates will no longer receive research support from BMS under the agreement.

item 1.02

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Molecular Templates, Inc. terminated Collaboration Agreement with Bristol Myers Squibb Company (effective 2024-06-13).

Action: termination
Agreement: collaboration
Counterparty: Bristol Myers Squibb Company
Effective: 2024-06-13

Exact text from the filing

BMS notified the Company on March 13, 2024 that it does not intend to continue the research collaboration it entered into with the Company pursuant to the Collaboration Agreement and would be terminating the Collaboration Agreement in its entirety. The termination will be effective on June 13, 2024

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Source: SEC EDGAR

accession 0001193125-24-069133

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