Bristol-Myers Squibb (NYSE:BMY) has agreed to acquire privately held Forbius, a clinical-stage protein engineering company with a line-up of candidates for cancer and fibrosis.
The lead drug is AVID200, a transforming growth factor (TGF) beta inhibitor in Phase 1 development for solid tumors, systemic sclerosis and myelofibrosis.
Under the terms of the deal, Forbius equity holders will receive an upfront payment and milestones. Specific financial terms are not disclosed.
The transaction should close next quarter.
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