Bristol-Myers Squibb Company (BMY) UBS Virtual Targeted Protein Degradation Day summary

Leadership and platform evolution

• Seven years of experience in targeted protein degradation, integrating research, development, and manufacturing for a competitive edge.

• Eleven clinical programs underway, with four in or entering registrational trials within a year, spanning molecular glues, CELMoDs, LDDs, and DACs.

• Expansion of the CELMoD library has enabled profiling across the human proteome, revealing novel neo-substrates and targets.

• Extensive academic and industry collaborations, including AI and machine learning partnerships, enhance discovery and development.

Clinical pipeline and program highlights

• Iberdomide and mezigdomide are in registrational studies for multiple myeloma, with golcadomide in lymphoma; data expected in 2026.

• Mezigdomide is the most potent CELMoD, designed for resistant myeloma, locking cereblon in its active state for deeper degradation.

• Early phase I/II data for iberdomide and mezigdomide show promising efficacy and safety in multiple myeloma.

• Golcadomide is optimized for non-Hodgkin lymphoma, showing strong tumor penetration and activity in high-risk DLBCL; phase III ongoing.

Platform differentiation and decision-making

• CELMoDs, LDDs (PROTACs), and DACs are developed using a framework matching modality to mechanism, targeting proteins difficult to drug with traditional inhibitors.

• Ability to empirically adjust selectivity and degradation of neo-substrates to optimize efficacy and minimize toxicity.

• Broad clinical portfolio and translational insights provide a feedback loop for next-generation molecule design.