Bristol-Myers Squibb and Five Prime Therapeutics have entered into an exclusive clinical collaboration to evaluate a new combination cancer therapy.

The companies wish to assess the safety, tolerability and preliminary efficacy of combining Bristol-Myers Squibb's Opdivo and Five Prime's FPA008, two investigational therapies that could be effective together against various cancer types.

“Bristol-Myers Squibb and Five Prime Therapeutics are collaborating to investigate the potential benefits of a new combination cancer treatment.“

A phase Ia/Ib study will be launched to evaluate the combination as a potential treatment option for patients with non-small cell lung cancer, melanoma, head and neck cancer, pancreatic cancer, colorectal cancer and malignant glioma.

Both are part of a new class of cancer treatments known as immunotherapies, which harness the body's own immune system to fight cancer.

Michael Giordano, senior vice-president and head of oncology development at Bristol-Myers Squibb, said: "We are excited to build upon our existing relationship with Five Prime Therapeutics in immuno-oncology and explore the full potential of Opdivo and FPA008 in multiple tumour types."

This comes after the firm announced plans to construct a new state-of-the-art, large-scale biologics manufacturing facility in Cruiserath, County Dublin earlier this month.