Bristol Myers Squibb has halted development of Orum Therapeutics’ ORM-6151, an antibody-drug conjugate for blood cancers, after reviewing Phase 1 clinical data from trials in the United States, Europe and Canada. BMS had evaluated the candidate as a monotherapy and alongside azacitidine and venetoclax in patients with acute myeloid leukemia and myelodysplastic syndromes. Orum transferred ORM-6151 to BMS in 2023 under an asset-sale agreement worth $180 million, including a $100 million upfront payment and $80 million in potential milestones. The halt is expected to eliminate the milestone payments, but Orum is not required to return the upfront amount. Because the deal was an asset sale rather than a licensing agreement, ORM-6151 will not return to Orum. Orum’s shares fell to 37,400 Korean won on the KOSDAQ at 9:15 a.m. on September 18, down 29.96% from the previous trading day. The discontinuation delays clinical validation of Orum’s DAC platform, while the company prepares trials for ORM-1153 and focuses on its internal pipeline.