Bristol Myers inks deal to acquire Forbius

24 August 2020

US pharma major Bristol Myers Squibb (NYSE: BMY) has entered into a definitive agreement to acquire Forbius, a privately held, clinical-stage protein engineering company that designs and develops biotherapeutics for the treatment of cancer and fibrotic diseases.

Forbius has developed a portfolio of highly selective and potent inhibitors of TGF-beta 1 & 3, which are key mediators of immunosuppression and fibrosis.

The transaction, which is expected to complete in the fourth quarter subject to customary closing conditions, includes an undisclosed upfront payment and future success-based milestone payments. Prior to closing, Forbius’ non-TGF-beta assets will be transferred to a newly-formed private company, which will be retained by Forbius’ existing shareholders.

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