Bristol-Myers Squibb (NYSE:BMY) has agreed to become a limited partnerwith BioMotiv, a drug development accelerator, aimed at bringing discoveries at academic institutions into the market.
Under the terms of the partnership, the parties will form and fund new companies to develop novel therapeutics in areas of unmet need. BMY will have the option to invest additional capital in selected projects of mutual interest. Specific financial terms are not disclosed.
Shares up 1% premarket on light volume.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.