X
Pharma Advancement
  • Home
  • Drug Development
    • All
    • Clinical Trials
    • FDA Approvals
    • Research & Development

    Transfusion of The First Patients Lab-Grown Blood Cells

    Bispecific Cancer Drugs, Gene Therapy Advances At Next ASH

    First Virtual Drug Study Tests 2 Likely Alzheimer Therapies

    First Virtual Drug Study Tests 2 Likely Alzheimer Therapies

    $2 Million Gene Therapy Might Become The Standard In The US

    $2 Million Gene Therapy Might Become The Standard In The US

    Cancer Medicine Prices Jump 53% In Five Years In The U.S

    Food And Drug Administration User Fee Has Been Reauthorized

    Cancer Clinical Trials Get A Brand New Platform In Melbourne

    Report Indicates UK £62bn Behind In Global R&D Investment

    Report Indicates UK £62bn Behind In Global R&D Investment

    Wall Street Cautiously Optimistic After Gene Therapy Deals

    Wall Street Cautiously Optimistic After Gene Therapy Deals

  • Manufacturing
  • Supply Chain
  • Facilities
  • Health & Nutrition
  • Events
  • Contact Us
No Result
View All Result
  • Home
  • Drug Development
    • All
    • Clinical Trials
    • FDA Approvals
    • Research & Development

    Transfusion of The First Patients Lab-Grown Blood Cells

    Bispecific Cancer Drugs, Gene Therapy Advances At Next ASH

    First Virtual Drug Study Tests 2 Likely Alzheimer Therapies

    First Virtual Drug Study Tests 2 Likely Alzheimer Therapies

    $2 Million Gene Therapy Might Become The Standard In The US

    $2 Million Gene Therapy Might Become The Standard In The US

    Cancer Medicine Prices Jump 53% In Five Years In The U.S

    Food And Drug Administration User Fee Has Been Reauthorized

    Cancer Clinical Trials Get A Brand New Platform In Melbourne

    Report Indicates UK £62bn Behind In Global R&D Investment

    Report Indicates UK £62bn Behind In Global R&D Investment

    Wall Street Cautiously Optimistic After Gene Therapy Deals

    Wall Street Cautiously Optimistic After Gene Therapy Deals

  • Manufacturing
  • Supply Chain
  • Facilities
  • Health & Nutrition
  • Events
  • Contact Us
No Result
View All Result
Pharma Advancement
No Result
View All Result
Home Market Moves

Bristol-Myers Squibb Acquires Cormorant Pharmaceuticals

Yuvraj_pawp by Yuvraj_pawp
5th July 2016
in Market Moves

Bristol-Myers Squibb Company and Cormorant Pharmaceuticals announced today that Bristol-Myers Squibb has acquired all of the outstanding capital stock of Cormorant, a private, Stockholm, Sweden-based pharmaceutical company focused on the development of therapies for cancer and rare diseases.

 

The acquisition gives Bristol-Myers Squibb full rights to Cormorant’s HuMax-IL8 antibody program and the lead candidate HuMax-IL8, a Phase 1/2 monoclonal antibody targeted against interleukin-8 (IL-8) that represents a potentially complementary immuno-oncology mechanism of action to T-cell directed antibodies and co-stimulatory molecules.

 

IL-8 is a protein expressed by many solid tumors within the tumor microenvironment that suppresses the immune system and increases the ability of tumors to metastasize. By targeting IL-8, HuMax-IL8 offers the potential to enhance immune response and increase the efficacy of existing cancer medicines through combination therapy. The rights to HuMax-IL8 were acquired by Cormorant from Genmab A/S in 2012 under an exclusive license agreement.

“We believe combination therapy will be foundational to delivering the potential for long-term survival for patients, and the opportunity to develop the HuMax-IL8 antibody program together with our broad Immuno-Oncology pipeline enables us to accelerate the next wave of potentially transformational immunotherapies,” said Francis Cuss, MB BChir, FRCP, executive vice president and chief scientific officer, Bristol-Myers Squibb.

“Bristol-Myers Squibb is the ideal company to maximize the potential of both Cormorant and the HuMax-IL8 program, and bring hope to more patients,” said Maarten de Château, M.D., Ph.D., chief executive officer, Cormorant Pharmaceuticals. “Bristol-Myers Squibb is the leader in the Immuno-Oncology field, with deep clinical development and regulatory expertise, and an established commercial infrastructure to deliver important new therapies to patients quickly. Bristol-Myers Squibb’s rich pipeline of clinical candidates and approved products provides even more opportunity for potential therapeutic synergy when coupled with HuMax-IL8.”

The transaction includes upfront and near term contingent milestone payments of up to US $95 million and additional contingent consideration of up to US $425 million upon the achievement by Bristol-Myers Squibb of certain development and regulatory milestones.

The transaction has been approved by the boards of directors of both companies and by the stockholders of Cormorant.

 

About Cormorant

Cormorant Pharmaceuticals is a privately held, biopharmaceutical company founded by Maarten de Château and Urban Paulsson. The company is based at the Karolinska Institute Science Park in Stockholm, Sweden. Based on mounting research pointing to IL-8 being an important driver of malignant tumors, HuMax-IL8 was acquired from Genmab A/S and taken into development by Cormorant. HuMax-IL8, is a fully human monoclonal antibody.

Cormorant engaged Colpman Consulting Ltd as lead business advisor in the sale process. Wiggin and Dana LLP acted as legal advisors to the transaction.

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 about Bristol-Myers Squibb, visit us at BMS.com

Contact:Bristol-Myers Squibb

Media:
Ken Dominski, 609-252-5251
ken.dominski@bms.com

 

or
Lisa McCormick Lavery, 609-252-7602
lisa.mccormicklavery@bms.com

 

or
Investors:
Bill Szablewski, 609-252-5894
william.szablewski@bms.com

 

or
Cormorant
Maarten de Château, M.D., Ph.D.
dechateaum@gmail.com

 

Previous Post

Pfizer Bolsters China Presence With $350 Million Plant

Next Post

Wael Pharmacy to Distribute RIVA Systems in Bahrain

Related Posts

Grünenthal to buy NebidoTM testosterone treatment from Bayer for €500m
Market Moves

Grünenthal to buy NebidoTM testosterone treatment from Bayer for €500m

18th July 2022
Could The Long Deckline In Biotechnology M&A Be Ending
Featured

Could The Long Deckline In Biotechnology M&A Be Ending

16th July 2022
EMA Advises Recall of AbbVie, Biogen MS Drug
Market Moves

No Rush In Indian Generic Drug Firms To Launch COVID Products

16th July 2022
Market Moves

Gerresheimer raises revenue guidance for 2022 to double-digit growth after strong first quarter

8th April 2022
Regeneron, Intellia to develop CRISPR/Cas9-based treatments
Market Moves

Metagenomi Closes Oversubscribed $175M Series B Financing to Advance Therapeutic Pipeline and Expand Novel Gene Editing Platform

29th January 2022
Charities Pay $6 Million to Settle Medicare Kickback Allegations in Pharma Probe
Market Moves

Indian Pharma Industry To Grow By 9-11% In FY22- ICRA

7th January 2022
Next Post

Wael Pharmacy to Distribute RIVA Systems in Bahrain

Latest News

Clinical Trials

Transfusion of The First Patients Lab-Grown Blood Cells

9th November 2022
Clinical Trials

Bispecific Cancer Drugs, Gene Therapy Advances At Next ASH

8th November 2022
India Seeks Better Pharma Market Access In The UK: Official
Facilities & Operation

India Seeks Better Pharma Market Access In The UK: Official

8th November 2022
First Virtual Drug Study Tests 2 Likely Alzheimer Therapies
Clinical Trials

First Virtual Drug Study Tests 2 Likely Alzheimer Therapies

7th November 2022
CPhI Pharma Index Shows Unprecedented Global Pharma Optimism
Facilities & Operation

CPhI Pharma Index Shows Unprecedented Global Pharma Optimism

5th November 2022
Pharma Advancement

About Us

Pharma Advancement is a leading Pharma information centric website. On one side Pharmaadvancement.com has established itself as one of the most efficient and comprehensive source of Pharma information online, dedicated to providing decision makers in all the Pharma industry sectors with reliable, accurate and useful insights into happenings in the Pharma sector.

Qucik Links

  • Drug Development
  • Manufacturing
  • News
  • Events & Conferences
  • Newsletter Archive

Resources

  • Advertise with us
  • Contact Us
  • Download Mediapack

System

  • Search
  • Sitemap
  • RSS Feed

© 2017 Copyright © Valuemediaservices 2017 All rights reserved.

No Result
View All Result
  • Home
  • Drug Development
  • Manufacturing
  • Supply Chain
  • Facilities
  • Health & Nutrition
  • Events
  • Contact Us

© 2017 Copyright © Valuemediaservices 2017 All rights reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In