$2.7 billion deal for Schrödinger and Bristol Myers Squibb

Physics-based software specialist Schrödinger (Nasdaq: SDGR) has secured a discovery collaboration with Bristol Myers Squibb (NYSE: BMY), with the goal of developing and commercializing therapeutics in multiple disease areas.

Bristol Myers has been drawn to Schrödinger’s unique computational platform and drug discovery capabilities, an approach that has drawn interest from other pharma majors, including AstraZeneca (LSE: AZN), Bayer (BAYN: DE) and Sanofi (Euronext: SAN).

The firm was able to attract  $110 million of investment in a financing round in May 2019, before going public less than a year later,  raising $230 million in its IPO in February 2020.