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Bristol Gets Five Primed For Immuno-Oncology Expansion

 
• By Lisa LaMotta

Bristol strengthens its leading role in the immuno-oncology space through a discovery and development collaboration with newly public biotech Five Prime, a deal that could be worth more than $350 million with earn-outs. The pharma also takes an equity stake in its new oncology partner.

Protein therapeutic biotech Five Prime Therapeutics Inc. has inked another partnership for its platform with big pharma, this time with Bristol-Myers Squibb Co. to develop and commercialize candidates against a number of checkpoint inhibitor targets. For the biotech, this means an influx of added capital to further internal endeavors, while for Bristol, the deal adds to its immuno-oncology arsenal.

Under the terms of a deal announced March 17, Bristol will pay Five Prime $20 million upfront and $21 million for a 4.9% equity stake in the newly public company....

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