Bristol Myers Squibb and Bain Capital have announced the formation of an independent biotechnology company dedicated to advancing novel immunology treatments. The initiative is supported by a $300 million funding round led by Bain Capital, with participation from the Canada Pension Plan Investment Board (CPPIB).
The newly formed company will develop a portfolio of five experimental drug candidates licensed from Bristol Myers, including a late-stage therapy for lupus and a mid-stage treatment for psoriasis that has shown encouraging results in clinical trials.
Bristol Myers Squibb will retain a nearly 20% ownership stake in the venture and will benefit from milestone payments and royalties tied to the success of the drug programs. The move enables the pharmaceutical giant to sharpen its focus on innovative immunology research, particularly treatments aimed at resetting the immune system, while ensuring continued progress for promising pipeline assets.
“These assets have significant potential, and we are confident this new company will drive their development to ensure greater impact for patients,” said Julie Rozenblyum, Senior Vice President of Business Development at Bristol Myers Squibb.
Industry veteran Daniel Lynch will serve as Executive Chairman and interim CEO of the new entity. In addition, Robert Plenge, Chief Research Officer at Bristol Myers Squibb, will join the board alongside Bain Capital partners, bringing scientific and strategic oversight to the venture.
The partnership highlights a growing trend in the biopharma industry, where large pharmaceutical firms collaborate with private equity players to accelerate drug development while managing risk and investment focus.