Bristol-Myers Squibb Completes Previously Announced Acquisition of IFM Therapeutics
September 07 2017 - 4:30PM
Business Wire
Bristol-Myers Squibb Company (NYSE:BMY) today announced that it
has completed the previously announced planned acquisition of IFM
Therapeutics.
The transaction includes full rights to IFM’s preclinical STING
(stimulator of interferon genes) and NLRP3 agonist programs
focused on enhancing the innate immune response for treating
cancer. IFM’s STING agonist program includes a lead asset that
accelerates the company’s efforts against this target, while the
NLRP3 agonist program includes a potential first-in-class pipeline
candidate. A newly formed entity will be established by the current
shareholders of IFM - IFM Therapeutics LLC – and it will retain
IFM’s current personnel and facilities, as well as its remaining
research programs, which include an NLRP3 antagonist program
focused on curbing immune responses that lead to inflammatory
diseases and fibrosis.
About Bristol-Myers Squibb
Bristol-Myers Squibb is a global biopharmaceutical company whose
mission is to discover, develop, and deliver innovative medicines
that help patients prevail over serious diseases. For more
information, please visit www.bms.com or follow us on Twitter at
http://twitter.com/bmsnews.
About IFM Therapeutics LLC
IFM Therapeutics LLC is a privately held biopharmaceutical
company based in Boston, Massachusetts. The company was founded by
an international group of preeminent scientists and physicians who
have spent decades understanding innate immunity and the role it
plays in regulating the immune system. IFM’s team has discovered
and developed small molecules that modulate novel targets in the
innate immune system as next-generation therapies for cancer,
autoimmunity, and inflammatory disorders. For more information,
please visit www.ifmthera.com.
Bristol-Myers Squibb Forward-Looking Statement
This press release contains “forward-looking statements” as that
term is defined in the Private Securities Litigation Reform Act of
1995 regarding the research, development, and commercialization of
pharmaceutical products. Such forward-looking statements are
based on current expectations and involve inherent risks and
uncertainties, including factors that could delay, divert or change
any of them, and could cause actual outcomes and results to differ
materially from current expectations. No forward-looking
statement can be guaranteed. Among other risks, there can be
no guarantee that the expected benefits of the acquisition will be
realized. In addition, the compounds described in this release are
subject to all the risks inherent in the drug development process,
and there can be no assurance that the development of these
compounds will be successful. Forward-looking statements in
this press release should be evaluated together with the many
uncertainties that affect Bristol-Myers Squibb's business,
particularly those identified in the cautionary factors discussion
in Bristol-Myers Squibb's Annual Report on Form 10-K for the year
ended December 31, 2016 in our Quarterly Reports on Form 10-Q and
our Current Reports on Form 8-K. Bristol-Myers Squibb
undertakes no obligation to publicly update any forward-looking
statement, whether as a result of new information, future events or
otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20170907006354/en/
Bristol-Myers SquibbMedia:Ken Dominski,
609-252-5251ken.dominski@bms.comorLisa McCormick Lavery,
609-252-7602lisa.mccormicklavery@bms.comorInvestors:Tim
Power, 609-252-7509timothy.power@bms.comorBill Szablewski,
609-252-5894william.szablewski@bms.com
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