Bristol Myers Squibb Terminates Cell Therapy Collaborations with Immatics and Century Therapeutics

Termination of Collaborations:
Bristol Myers Squibb has ended its cell therapy collaborations with Immatics and Century Therapeutics as part of a portfolio review2.

Previous Agreements:
The collaborations were aimed at developing cell therapies for various cancers, including a $920 million deal with Immatics for an experimental cancer drug program5 and a $150 million upfront payment plus potential $3 billion in payments to Century Therapeutics for iPSC-derived allogeneic cell therapies1.

Portfolio Review:
The termination is part of Bristol Myers Squibb's strategic review to focus on its most promising projects and optimize its portfolio.

Impact on Partners:
The termination affects Immatics and Century Therapeutics, which had significant financial and strategic investments in these collaborations.

Bristol Myers Squibb’s Strategy:
The company is focusing on its growth portfolio, including products like Abecma, Breyanzi, and Reblozyl, which have shown strong performance in recent quarters4.

Sources:

1. https://news.bms.com/news/details/2022/Century-Therapeutics-and-Bristol-Myers-Squibb-Enter-into-a-Strategic-Collaboration-to-Develop-iPSC-derived-Allogeneic-Cell-Therapies/default.aspx

2. https://endpts.com/bristol-myers-drops-cell-therapy-pacts-with-immatics-century-as-part-of-portfolio-review/

4. https://www.biospace.com/business/bms-delivers-q3-beat-raises-2024-guidance-amid-strong-demand-for-legacy-and-newer-drugs

5. https://www.biospace.com/bristol-myers-squibb-broaden-its-partnership-with-immatics-dropping-920-mln-deal-to-acquire-rights-to-a-cancer-drug-program