Bristol Myers, Bain Capital form new company to develop immunology drugs
The new company will work on five experimental drugs licensed from Bristol Myers, including a late-stage lupus treatment and a mid-stage psoriasis drug that has shown promise in trials.
Bristol Myers will retain nearly 20% equity in the venture and is set to receive royalties and milestone payments based on the drugs' success.
The collaboration allows the drugmaker to concentrate its immunology research on treatments aimed at resetting the immune system while ensuring the continued development of promising assets, the companies said.
"These assets have significant potential, and we are confident that this new company will drive their development to ensure greater impact for patients," said Julie Rozenblyum, senior vice president of business development at Bristol Myers.
Daniel Lynch, a seasoned pharmaceutical executive, will take on the roles of executive chairman and interim CEO of the new company, while Bristol Myers' chief research officer Robert Plenge is set to join the board alongside Bain Capital partners.
Canada Pension Plan Investment Board also participated in the financing round.
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The Independent
21 minutes ago
- The Independent
Food earmarked for millions of people still languishes in warehouses after Trump shuttered USAID
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The Guardian
21 minutes ago
- The Guardian
AI chatbots are becoming popular alternatives to therapy. But they may worsen mental health crises, experts warn
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Daily Mail
21 minutes ago
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The Hamptons' 'poor neighbor' becomes a real estate hotbed of multimillion-dollar bidding wars
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Orient is the eastern-most town on Long Island's picturesque North Fork He noted in some instances you can tell who's new to the area just by their architecture style. 'It's a little bit easier to see affluence,' he said. 'Those who've been there for a long time, and live in these more humble homes that are, you know, bungalows, or cottages are now maybe sitting side by side with 7,000 square foot modern glass boxes.' 'I think it's jarring for some people,' he said. But he certainly sees the appeal. 'There's really almost no traffic to speak of through the summer months. Some very good restaurants that have appeared over the last decade or so,' he said. 'So it's a little more relaxed, quieter existence than what most people may be experiencing today on the South Fork.'
