Bristol Myers Squibb has entered into a licensing agreement with BridgeBio Pharma to develop and commercialise the latter’s SHP2 inhibitor, BBP-398, in oncology. Under the terms of the agreement, BridgeBio is eligible to receive up to US$905 M, including an upfront payment of US$90 M, and up to US$815 M in additional milestone payments and royalties. The deal builds upon the companies’ clinical collaboration announced in July 2021 to evaluate the combination of BBP-398 with Opdivo® (nivolumab) in patients with advanced solid tumours with KRAS mutations.