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.
Bristol-Myers Squibb Media: Ken Dominski, 609-252-5251 ken.dominski@bms.com orLisa McCormick Lavery, 609-252-7602 lisa.mccormicklavery@bms.com or Investors: Tim Power, 609-252-7509 timothy.power@bms.com orBill Szablewski, 609-252-5894 william.szablewski@bms.com