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BMS and venture capital giant form new company

The American pharmaceutical company Bristol Myers Squibb, together with the venture capital firm Bain Capital, is forming a new biotech company. The company will develop treatments for autoimmune diseases where there is currently a lack of effective therapies.
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The new company, which will be independent of BMS, has in-licensed five drugs in development from BMS. Of these, afimetoran for lupus and BMS-986322 for psoriasis have advanced the most. They are both in Phase 2. Another drug is in Phase 1 and the other two are ready to begin testing in Phase 1.

“These assets have significant potential, and we are confident that this new company will drive their development to ensure greater impact for patients,” said Julie Rozenblyum, Senior Vice President, Business Development at BMS, in a press release.

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