BMS expanding I-O portfolio through IFM acquisition

Bristol-Myers Squibb Co. (NYSE:BMY) will acquire IFM Therapeutics Inc. (Boston, Mass.), gaining two preclinical programs focused on stimulating the innate immune system to treat cancer. IFM receives $300 million up front and is eligible for up to $1 billion in milestones per program for the first resulting product, plus additional milestones for subsequent products.

While most current immuno-oncology programs target the adaptive immune system to fight cancer cells, IFM's programs are instead focused on ramping up the innate immune system (see BioCentury, June 27, 2016)...