BMS Expands CAR-T Therapy Capabilities with Strategic $380 Million Investment in Cellares

1. Bristol Myers Squibb (BMS) has entered into a $380 million agreement with Cellares, a biotechnology company specializing in cell therapy manufacturing.
2. The partnership aims to expand BMS's capacity for producing CAR-T cell therapies, a type of immunotherapy used to treat certain types of cancer.
3. Cellares' proprietary technology focuses on automating and standardizing the manufacturing process of cell therapies, which could potentially reduce costs and improve efficiency.
4. The investment will support the development and commercialization of Cellares' Cell Shuttle platform, a flexible and closed-system manufacturing solution for cell therapies.
5. The collaboration between BMS and Cellares is expected to accelerate the availability of CAR-T therapies for cancer patients, addressing the growing demand for these innovative treatments.
6. BMS is a global biopharmaceutical company with a diverse portfolio of oncology, immunology, and cardiovascular therapies, while Cellares is a venture-backed company founded in 2017.
7. The $380 million investment includes an upfront payment, equity investment, and potential milestone payments, demonstrating BMS's commitment to advancing cell therapy manufacturing capabilities.