Bristol-Myers Squibb Acquires Cormorant Pharmaceuticals

Bristol Cormorant

July 5, 2016

Bristol-Myers Squibb Company and Cormorant Pharmaceuticals have announced that Bristol-Myers Squibb has acquired all of the outstanding capital stock of Cormorant, which is a private, Stockholm, Sweden-based pharmaceutical company that focuses on the development of therapies for cancer and rare diseases. This acquisition allows Bristol-Myers Squibb gain full rights to Cormorant’s HuMax-IL8 antibody program and the lead candidate HuMax-IL8, a Phase 1/2 monoclonal antibody targeted against interleukin-8 (IL-8) representing a potentially complementary immuno-oncology mechanism of action to T-cell directed antibodies and co-stimulatory molecules.

As said by Francis Cuss, MB BChir, FRCP, executive vice president and chief scientific officer, Bristol-Myers Squibb: “We believe combination therapy will be foundational to delivering the potential for long-term survival for patients, and the opportunity to develop the HuMax-IL8 antibody program together with our broad Immuno-Oncology pipeline enables us to accelerate the next wave of potentially transformational immunotherapies.”

“Bristol-Myers Squibb is the ideal company to maximize the potential of both Cormorant and the HuMax-IL8 program, and bring hope to more patients. Bristol-Myers Squibb is the leader in the Immuno-Oncology field, with deep clinical development and regulatory expertise, and an established commercial infrastructure to deliver important new therapies to patients quickly. Bristol-Myers Squibb’s rich pipeline of clinical candidates and approved products provides even more opportunity for potential therapeutic synergy when coupled with HuMax-IL8,” said Maarten de Château, M.D., Ph.D., chief executive officer, Cormorant Pharmaceuticals.

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