Recent news reports reveal that BMS and IFM Therapeutics have signed an agreement in which Bristol-Myers Squibb will acquire full rights to IFM’s NLRP3 and STING agonist programs in an effort to target innate immunity pathways that could potentially assist the body’s natural defenses in recognizing tumors and attacking them, expanding and complementing Bristol-Myers Squibb’s immuno-oncology portfolio.
Reports claim BMS will pay $300 million upon closing on the deal with IFM under the terms of the agreement. Stockholders of IFM, as well as the boards of directors of both companies, have approved the transaction, which will entitle stockholders in IFM to up to $1.01 billion in additional contingent payments for each of the two programs’ first products at the time specific development, sales, and regulatory milestones are achieved.
IFM Therapeutics specializes in inflammatory disease therapies, autoimmunity, and cancer. BMS will now acquire the rights to the stimulator of interferon genes (STING) and NLRP3 agonist programs, which focus on improving the inherent immune response for cancer treatment. According to Chief Scientific Officer at Bristol-Myers, Thomas Lynch, the addition of these two programs will expand the company’s ability to explore further pathways across the immune system.
CEO and Co-Founder of IFM Therapeutics, Gary D. Glick, Ph.D., said that BMS is uniquely positioned to speed up the STING and NLRP3 programs and maximize the programs’ potential due to the company’s leadership and extensive expertise in oncology, immunology, and immuno-oncology. Glick said that continued research of the two programs, focused on revealing the potential benefit to patients, has been supported by pre-clinical data, especially for patients who are not currently served by available cancer immunotherapeutics.
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