BioCentury
ARTICLE | Top Story

BMS acquiring Padlock

March 24, 2016 12:58 AM UTC

Bristol-Myers Squibb Co. (NYSE:BMY) will acquire autoimmune play Padlock Therapeutics Inc. (Cambridge, Mass.) for $225 million in upfront and near-term milestone payments. Padlock shareholders are eligible for $375 million in additional development and regulatory milestones.

Padlock is developing a pipeline of preclinical peptidyl arginine deiminase ( PADI; PAD) inhibitors to treat autoimmune disorders. PAD enzymes convert the amino acid arginine to citrulline and generate autoantigens that play a role in autoimmune diseases including rheumatoid arthritis, systemic lupus erythematosus (SLE) and multiple sclerosis (see BioCentury, Jan. 19, 2015). ...