By Fineline Cube 
US major Bristol-Myers Squibb (BMS; NYSE: BMY) and Bain Capital announced the formation of a new, independent biopharmaceutical company (“NewCo”) dedicated to developing novel therapies for autoimmune diseases. The company launches with five immunology assets licensed from BMS and a $300 million financing commitment led by Bain Capital.
NewCo’s Pipeline
NewCo’s pipeline includes three clinical-stage and two Phase 1-ready investigational medicines. Key assets include:
- Afimetoran: An oral, potential best-in-class TLR7/8 inhibitor in Phase 2 trials for systemic lupus erythematosus (SLE).
- BMS-986322: An oral TYK2 inhibitor that completed proof-of-concept in Phase 2 trials for plaque psoriasis.
- BMS-986326: A novel IL2 fusion protein in Phase 1 trials for SLE and atopic dermatitis.
- BMS-986481 and BMS-986498: Two Phase 1-ready biologics targeting the IL18 and IL10 pathways.
BMS’s Involvement and Agreement
As part of the agreement, Bristol Myers Squibb will retain a nearly 20% equity stake in NewCo. BMS will also be entitled to royalties and milestones tied to the success of each asset.-Fineline Info & Tech