BMS to acquire ZymoGenetics
pharmafile | September 8, 2010 | News story | Research and Development, Sales and Marketing | BMS, hepatitis
Bristol-Myers Squibb is to acquire biopharma company ZymoGenetics for $885 million to add to its ‘string of pearls’of small biotech subsidiaries.
The acquisition gives BMS full rights to the phase IIb hepatitis C biologic pegylated-interferon lambda, bolstering its virology portfolio.
Also in ZymoGenetics’ pipeline is IL-21 protein, a cytokine currently in phase II trials as a potential immunotherapy for metastatic melanoma, and will gain access to an earlier-stage pipeline of six biologics.
The company also has pre-clinical and early clinical programmes in oncology and immunoscience.
Lamberto Andreotti, chief executive, BMS, said: “The acquisition of ZymoGenetics brings us full ownership of a promising investigational biologic that strengthens our very diversified Hepatitis C portfolio. Building on our leadership in virology, we are developing a strong portfolio to help patients with Hepatitis C.”
“In addition, ZymoGenetics brings proven capabilities with therapeutic proteins and revenue from a marketed specialty surgical biologic. This acquisition is another example of our strategic, targeted approach to business development.”
The company’s ‘string of pearls’ strategy has seen it purchase a series of smaller biotech companies that started with the acquisition of Adnexus Pharmaceuticals in October 2007.
BMS is using the strategy to build its early stage portfolio and increase its novel and first-in-class small molecules and biologic compounds.
Ben Adams
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