GlaxoSmithKline and Google both exited the biotechnology developer through the $175m acquisition, which could eventually rise to $725m.
Biopharmaceutical company Bristol-Myers Squibb has acquired US-based biotechnology company iPierian for $175m, with up to $550m in development and regulatory milestone payments to be added on post-acquisition.
The deal will provide exits to investors including Google Ventures, the corporate venturing arm of diversified internet company Google, and SR One, the early-stage investment subsidiary of pharmaceutical firm GlaxoSmithKline.
Founded in 2007 as iZumi Bio, iPierian is developing treatments for neurodegenerative diseases that involve discovering monoclonal antibodies that can combat the aggression…
