Bristol Myers Squibb and Bain Capital have partnered to create a new biopharmaceutical company focused on developing therapies for autoimmune diseases. The company starts with five immunology assets from BMS and a $300 million financing commitment from Bain Capital. The pipeline includes three clinical-stage and two Phase 1-ready medicines targeting autoimmune diseases like lupus and psoriasis. BMS will retain a 20% stake in the new company and receive royalties and milestones. The new company will be led by Executive Chairman Daniel Lynch and include members from Bain Capital and BMS on the Board of Directors. Bain Capital and Canada Pension Plan Investment Board are investors in the new company.

Read more at Nasdaq.: Bristol Myers Squibb And Bain Capital Form New Company To Tackle Unmet Needs In Immunology