Bristol-Myers Squibb $20 mil. investment in Somatix extends Bristol cancer research into gene therapy.
BRISTOL-MYERS SQUIBB GAINS GENE THERAPY ENTREE VIA SOMATIX in which BMS made a $10 mil. initial equity investment at a "premium to the market" for certain rights in the area of cancer gene therapy, Alameda, Calif.-based Somatix announced Aug. 15. In addition, after Jan. 1, Bristol will purchase $10 mil. more of Somatix at a premium based on Somatix obtaining approval to proceed with Phase II trials of its GVAX cancer vaccine.
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