Bristol-Myers acquires iPierian for $175 million upfront, plus $550 possible milestones
US pharma major Bristol-Myers Squibb (NYSE: BMY) has acquired iPierian, a privately held biotechnology company focused on the discovery and development of new treatments for Tauopathies, a class of neurodegenerative diseases associated with the pathological aggregation of Tau protein in the human brain.
Under the terms of the deal, B-MS has acquired all of iPierian’s issued and outstanding shares of capital stock and all common stock equivalents in an all cash transaction of $175 million, with the potential for additional development and regulatory milestone payments totaling $550 million, along with future royalties on net sales. The transaction is expected to be accounted for as an asset acquisition for B-MS resulting in a $175 million charge during the second quarter of 2014.
iPierian lead asset is IPN007, a MAb
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