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6 July 2016Americas

Bristol-Myers Squibb buys Cormorant Pharmaceuticals

Pharmaceutical company Bristol-Myers Squibb (BMS) has acquired Cormorant Pharmaceuticals in a deal valued at up to $95 million.

Sweden-based Cormorant focuses on the development of therapies for curing cancer and rare diseases. It is based in Stockholm.

Under the deal, BMS will be given full rights to Cormorant’s HuMax-IL8 antibody programme and IL-8.

The deal includes an upfront payment that will reach up to $95 million.

An additional payment of up to $425 million will be paid upon the achievement “of certain development and regulatory milestones”, BMS added.

Maarten de Château, chief executive of Cormorant, said: “BMS is the ideal company to maximise the potential of both Cormorant and the HuMax-IL8 programme, and bring hope to more patients.”


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3 January 2019   American pharmaceutical company Bristol-Myers Squibb has announced it is purchasing drug manufacturer Celgene in a $74 billion deal.