Cancer Immunotherapy Reaches A Tipping Point

Now that it is clear the immune system can kill cancer, all kinds of companies are obsessed with the idea. Start-ups are tailoring business models to divergent technologies and market dynamics.

Scientists, clinicians, and investors alike are excited, because a long-held hope has at last been proved true: the human immune system can be influenced to destroy cancer. Researchers have long believed this would be possible, but no one has been quite able to achieve it before. Bristol-Myers Squibb Co.'s antibody ipilimumab (Yervoy) is the tipping-point drug. It is the first new treatment for the serious skin cancer melanoma in 25 years, and the first cancer immunotherapy to be classified as a “checkpoint inhibitor.”

Approved by the Food and Drug Administration in 2011, ipilimumab has proved able to extend life in a subset of...

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