Venture capital firm Arix is financing the Copenhangen, Denmark-based biotech, which is looking to play its part in the fast-maturing gene-editing field.

The Celgene acquisition gave BMS a new top-selling drug but Revlimid revenue will start to decline as soon as next year and it is likely to take many new products to replace it.

Last year saw the number of applications accepted onto the European Medicines Agency’s priority medicines scheme inch up and the notoriously high rejection rate for applications drop.

In last year’s acquisition, Bristol Myers Squibb agreed to pay Celgene investors another $9 per share based on three approvals, including idecabtagene vicleucel (bb2121) by 30 March 2021.