PeptiDream Inc. announced that Bristol-Myers Squibb has informed PeptiDream that it will not advance the PDL1 Therapeutic program beyond the ongoing Phase 1 Healthy Volunteer Study, deciding instead to prioritize other programs in the BMS portfolio. As announced on April 28, 2022, BMS initiated a Phase 1 Healthy Volunteer Study (ISRCTN17572332) investigating the safety and tolerability in healthy volunteers of a macrocyclic peptide inhibitor of PDL1, discovered under the company's original Strategic Collaboration announced in October 2010. The Phase 1 Study had met the criteria for deferral of publication of the full trial details, and therefore limited information regarding the study has been disclosed to date.

BMS has confirmed that the decision to not advance the program was made for business reasons, and not due to any safety concerns. The ongoing Phase 1 Study is anticipated to be wrapped up in November 2023, with a Clinical Study Report anticipated by late 1H-2024. PeptiDream will review the Clinical Study Report with BMS and explore alternative development options for the program.