Bristol Myers Squibb Invests $110 Million in T-Cell Therapy Pact with Prime Medicine

Investment Amount:
Bristol Myers Squibb (BMS) is investing $110 million upfront in a partnership with Prime Medicine to develop reagents for ex vivo T-cell therapies.

Purpose of Partnership:
The partnership aims to help Prime Medicine advance its prioritized pipeline by providing necessary funding and resources.

Therapy Focus:
The collaboration focuses on ex vivo T-cell therapies, which involve modifying T cells outside the body before reinfusing them to treat diseases.

Potential Additional Payments:
Prime Medicine could receive additional payments beyond the initial $110 million, depending on the success of the therapies developed through the partnership.

Strategic Move:
This investment is part of BMS's broader strategy to expand its presence in the cell therapy space and leverage external innovation to enhance its pipeline.