Bristol-Myers Squibb has agreed to buy the cancer specialist just two months after its series B round, in a deal that will involve $800m in cash upfront.
Biopharmaceutical company Bristol-Myers Squibb agreed yesterday to acquire US-based cancer treatment developer Flexus Biosciences in a deal that could be worth up to $1.25bn.
Bristol-Myers Squibb will pay $800m upfront and up to $450m in development milestones. The acquisition will grant an exit to Celgene, the pharmaceutical firm that participated in a series B round for Flexus in December last year which brought the company’s total equity funding to $38m.
The series B round also featured Kleiner Perkins Caufield…
