The pharmaceutical company's acquisition of Novartis-backed IFM Therapeutics, consisting of $300m upfront and up to $2bn in milestone payments, is its fourth purchase of a CVC-backed company in under four years.
Biopharmaceutical company Bristol-Myers Squibb (BMS) agreed on Friday to acquire US-based immuno-oncology therapy developer IFM Therapeutics in a deal that could reach $2.3bn, its fourth big-money acquisition of a corporate-backed company in as many years.
BMS will pay $300m in cash for IFM, which counts pharmaceutical firm Novartis among its investors, and up to $1.01bn in milestone payments for each of the first products that come out of the company’s two preclinical antagonist programs. IFM’s shareholders could potentially receive extra…
