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Bristol-Myers Squibb’s $2.3 billion gamble to boost cancer pipeline

05:29 EDT 4 Aug 2017 | Pharmafile

Bristol-Myers Squibb has agreed a deal to acquire IFM Therapeutics for a potential $2.3 billion. The latter is a biotech that only last year completed its series A funding, gaining $27 million to back its venture in the process. Now, it sits comfortably on a $300 million war-chest, as BMS pays this amount down immediately as part of the deal.

Why is BMS prepared to pay so much for a fledgling biotech? Principally for its two preclinical programs that could provide immunotherapy treatment, Opdivo, with a significant boost.

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Original Article: Bristol-Myers Squibb’s $2.3 billion gamble to boost cancer pipeline

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