Bristol-Myers Squibb announced the acquisition Flexus for $ 1.25 billion
Bristol-Myers Squibb agreed to buy all circulating shares of biotechnology company Flexus, specializing in the creation of innovative treatments for cancer. The transaction value is estimated at $ 1.25 billion.
In an official press release it is noted that at the same time Bristol-Myers Squibb will pay $800 million, while another $450 million will be paid after the execution of certain tasks in the development of new anti-cancer drugs. The transaction has been approved by the boards of directors of both companies and the holders of securities Flexus.
The acquisition will allow Flexus Bristol-Myers Squibb to expand its portfolio of drugs for cancer immunotherapy, including the right to receive a promising experimental tool F001287 (inhibitor IDO1).
Also, Bristol-Myers Squibb announced the signing of a cooperation agreement with Rigel Pharmaceuticals. According to the agreement, the companies will work together to engage in research, development and commercialization of drugs for cancer immunotherapy.
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