Sector News

Bristol-Myers Squibb To Acquire Flexus For Up To $1.25 Bln

February 23, 2015
Life sciences
(RTTNews.com) – Bristol-Myers Squibb Co. and Flexus Biosciences, Inc. said they have signed a definitive agreement for Bristol-Myers Squibb to acquire all outstanding capital stock of Flexus, a privately-held biotechnology company focused on the discovery and development of novel anti-cancer therapeutics.
 
The transaction has a potential total consideration of $1.25 billion, including $800 million upfront and development milestones that, upon achievement, could total up to $450 million. The deal has been approved by the boards of directors of both companies and by the stockholders of Flexus. Closing of the transaction will close during the first quarter of 2015.
 
The acquisition will give Bristol-Myers Squibb full rights to F001287, Flexus’ lead preclinical small molecule IDO1-inhibitor targeted for IND filing in the second half of 2015.
 
Additionally, Bristol-Myers Squibb will acquire Flexus’ IDO/TDO discovery program which includes its IDO-selective, IDO/TDO dual and TDO-selective compound libraries.
 
A newly formed entity set up by the current shareholders of Flexus will retain, from and after the closing, all non-IDO/TDO assets of Flexus including those related to Flexus’ Phase 1 FLT3 and CDK4/6 inhibitor, its earlier stage small-molecule Treg cancer immunotherapy programs, and its current personnel and facilities.

Related News

September 30, 2020

Johnson & Johnson signs on Michigan’s Grand River to help with COVID-19 vaccine finishing work

Life sciences

With all eyes on the hunt for a COVID-19 vaccine, drugmakers like New Jersey’s Johnson & Johnson are scouring the market for manufacturing partners to help meet what would be […]

September 30, 2020

Takeda taps Elektrofi’s microparticle delivery platform for potential subq plasma offerings

Life sciences

Takeda has joined forces with drug delivery specialist Elektrofi to see whether the biotech’s microparticle formulation technology could enable simpler dosing with plasma-derived therapies. Takeda will assess Elektrofi’s drug delivery platform using […]

September 29, 2020

Heart to heart: Novo Nordisk teams with ACC to open diabetes discussion

Life sciences

Novo Nordisk wants the heart disease community to join the diabetes conversation. As Type 2 diabetes drugs nab approvals for reduced cardiovascular risks—including Novo’s own Ozempic and Victoza—the need to […]