Bristol-Myers makes an $11 billion deal with BioNTech to join the new cancer-treatment game, nearly double the size of Pfizer’s deal announced two weeks earlier.

BioNTech SE's $11.1B oncology move signals potential, but clinical hurdles remain. Click for my look at the BNTX deal with Bristol-Myers and its impact on the firm.

Bristol-Myers Squibb Co. will pay BioNTech SE as much as $11.1 billion to license a next-generation cancer drug, as competition intensifies in an area of oncology that seeks to harness the immune system to attack tumors.