Bristol Myers Squibb (BMS) and Eisai have inked a collaboration deal worth up to $3.1 billion focused on Eisai’s experimental cancer drug, MORAb-202, which is aimed at patients with advanced solid tumors.

The deal expands BMS’ investments in cancer treatments and helps Tokyo-based Eisai to fund further development of MORAb-202, an antibody drug conjugate.

Under the agreement, BMS will pay $650 million to Eisai, including $200 million as payment toward Eisai research and development expenses. Eisai is also entitled to get up to $2.45 billion in potential development, regulatory and commercial milestones.

Eisai, which will remain responsible for the manufacturing and supply of MORAb-202 globally, is currently investigating the drug candidate in solid tumors (including endometrial, ovarian, lung and breast cancers) in a phase 1 clinical study in Japan and a phase 1/2 clinical study in the U.S.