Bristol Myers Squibb and Bain Capital Launch New Biopharma Company to Target Autoimmune Diseases

Bristol and Bain Capital’s New Company

Announcement

Bristol-Myers Squibb and Bain Capital together have built a new independent biopharmaceutical company. A company that will be aiming the develop new treatments for autoimmune diseases that address the prominent needs of patients. The newly launched company holds five immunology assets licensed from BMS and a total financing commitment of $300 million, which is led by Bain Capital.

New Company

The new company has a massive pipeline, including two phase 1-confirmed investigational medicines and three clinical stages that confirm the mechanism in autoimmune disease. The new company’s most advanced assets in the portfolio are an oral, afimetoran, and a potential TLR7/8 inhibitor. It is currently under study in a phase 2 clinical trial for systemic lupus erythematosus (SLE), and BMS-986322, which is an oral TYK2 inhibitor. This inhibitor successfully developed proof-of-concept in a phase 2 trial for positive plaque psoriasis. Also, other licensed assets, such as BMS-986326, a potential IL2 fusion protein, have completed studies for atopic dermatitis and SLE in phase 1 clinical trials. Whereas the BMS-986498 and BMS-986481, the two phase 1 prepared biologics, aimed at IL-10 and IL-18 pathways differently.

Agreement

The new company’s licensed assets are the same as the strength of the BMS’s scientific innovation. Under the agreement, for the new company’s operations and finance the 20% of the equity stake in the Newco will be retained by BMS. MD, PHD, Executive Vice President and Chief Research Officer at BMS, Robert Plenge, will be associated with NewCo’s board of directors. This transaction mirrors the strategic transition of BMS’s involvement in immunology research to concentrate on potential assets that can promote tissue repair and reset the immune system. This also elaborates the company’s cutting-edge strategy to initiate investments in the areas where BMS has the highest chances to lead, while serving the development of effective medicines.

Views and Statements

Senior Vice President, Business Development at BMS, Julie Rozenblyum, said, “The assets have prominent potential, and we ensure that this new company will enhance their development to promise an excellent impact for patients. Bain Capital’s amazing track record in forming commendable life science companies by enabling development and dedicated resources makes them well-suited to advance these assets.”

Partner at Bain Capital Life Sciences, Adam Koppel said, “We are delighted to partner with BMS, and we share their commitment to enhancing lives via science. Together, we will work and accelerate our company’s creation experience to advance assets and form a new platform.”