On February 19, 2021, Compugen Ltd. entered into an amendment No. 2 (the “Amendment”) to the Master Clinical Trial Collaboration Agreement dated October 10, 2018 (the “Agreement”) by and between the Company and Bristol-Myers Squibb Company, a Delaware corporation (“Bristol-Myers Squibb” or “BMS”). Under the Agreement, the parties agreed to evaluate the safety and tolerability of Compugen's COM701, a first-in-class investigational anti-PVRIG antibody (“COM701”), in combination with Bristol-Myers Squibb's programmed death-1 (PD-1) immune checkpoint inhibitor Opdivo® (nivolumab), in patients with advanced solid tumors.

As of now, the parties have completed the enrollment of patients in the dual combination dose escalation study of COM701 with Opdivo®. Pursuant to the Amendment, the parties agree to pursue the expansion of the Phase 1b combination study designed to evaluate the dual combination of COM701 and Opdivo® in patients with advanced solid tumors (the “Dual Combination”), where Compugen will be responsible for and will sponsor the expansion cohort and BMS will provide Opdivo® at no cost to Compugen for this study. The collaboration is also designed to address potential future combinations, and following the first amendment executed in February 2020, the parties are conducting a triple combination study to evaluate the safety and tolerability of COM701, Opdivo®, and BMS' anti-TIGIT antibody known as BMS-986207 (collectively, the “Triple Combination”).

The Amendment also revises the exclusivity period granted to BMS to include a specific date for termination of exclusivity period, so that it ends at the earlier of (i) six months after the study completion of the Triple Combination and the Dual Combination; or (ii) December 31, 2023.