Bristol Myers Squibb Terminates Cell Therapy Collaborations with Immatics and Century Therapeutics Amid Cost-Cutting Measures

Termination of Collaborations:
Bristol Myers Squibb (BMS) has terminated its cell therapy collaborations with Immatics and Century Therapeutics as part of its ongoing "strategic productivity initiative" aimed at saving $1.5 billion through 202512.

Reason for Termination:
The decision was made following an internal review of BMS's corporate portfolio, focusing on key growth brands and minimizing third-party expenditures12.

Impact on Partnerships:

Immatics:
BMS is ending two cell therapy contracts with Immatics, including a June 2022 contract for allogeneic T-cell receptor and/or CAR-T therapies and a May 2023 opt-in agreement related to their 2019 collaboration1.

Century Therapeutics:
The termination of the collaboration agreement, which was valued at more than $3 billion, will be effective on March 12, 2025. The partnership focused on developing new cancer therapies using induced pluripotent stem cell-derived engineered natural killer cell and/or gamma delta T-cell therapies25.

Financial Implications:
BMS aims to save $1.5 billion through 2025 by cutting third-party expenditures, focusing on key growth brands, and reducing 2,200 jobs by year-end1.

Century Therapeutics' Future Plans:
Despite the termination, Century Therapeutics plans to continue exploring opportunities related to acute myeloid leukemia and multiple myeloma as part of its strategic review of its pre-clinical pipeline2.

Sources:

1. https://www.biospace.com/business/bms-cost-cutting-campaign-claims-collabs-with-immatics-century

2. https://www.investing.com/news/sec-filings/century-therapeutics-ends-collaboration-with-bristolmyers-squibb-93CH-3772781

5. https://www.bizjournals.com/philadelphia/news/2024/12/16/century-therapeutics-bristol-myers-squibb-cell.html