India, July 28 -- Bristol Myers Squibb (BMY) and Bain Capital have announced the formation of a new independent biopharmaceutical company dedicated to developing innovative therapies for autoimmune diseases with significant unmet patient needs. The newly launched company begins with five immunology assets in-licensed from BMS and a $300 million financing commitment led by Bain Capital.
The NewCo has a broad pipeline consisting of three clinical-stage and two Phase 1-ready investigational medicines that each target promising mechanisms in autoimmune diseases.
The most advanced assets in the NewCo's portfolio are afimetoran, an oral, potential best-in-class TLR7/8 inhibitor that is currently being studied in a Phase 2 clinical trial for sys...