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