Bristol Myers (BMY) Partners with Bain Capital to Create Immunology Therapies

Bristol-Myers Squibb Company (NYSE:BMY) is one of the top stocks sold by hedge funds. On July 28, Bristol Myers, in partnership with private equity firm Bain Capital, is poised to launch a standalone entity focused on advancing immunology drug development, with a $300 million financing commitment from Bain.

The newly established company will focus on advancing five investigational therapeutics licensed from BMY, including a late-stage lupus candidate and a mid-stage psoriasis drug that has shown promising efficacy in clinical evaluations.

Retaining nearly 20% ownership, Bristol Myers will benefit from royalties and milestone payments depending on the success of the therapeutics. The joint effort allows the pharmaceutical firm to concentrate on developing immune system-reset therapies in immunology, ensuring that promising assets continue to develop.

Julie Rozenblyum, the senior vice president of business development at BMY, commented:

"These assets have significant potential, and we are confident that this new company will drive their development to ensure greater impact for patients,"

Daniel Lynch, an experienced pharma executive, will serve as executive chairman and interim CEO of the new company. Robert Plenge, Bristol Myers’ chief research officer, is expected to join the board along with Bain Capital partners. Moreover, the Canada Pension Plan Investment Board also took part in the funding series.

Bristol-Myers Squibb Company (NYSE:BMY) is a global biopharmaceutical company specializing in the invention, development, and commercialization of therapies for oncology, immunology, cardiovascular disease, and neuroscience.

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