A sign stands outside a Bristol Myers Squibb facility in Cambridge, Massachusetts, U.S., May 20, 2021.
REUTERS/Brian Snyder/File Photo Acquire Licensing RightsNov 6 (Reuters) - Bristol Myers Squibb (BMY.N) has acquired Orum Therapeutics' experimental therapy to treat a type of blood cancer for a total value of up to $180 million, the privately held company said on Monday.
The therapy, ORM-6151, which helps degrade a specific protein hard to treat previously, has received the U.S. Food and Drug Administration's (FDA) clearance for an early stage study.
The deal includes an upfront payment of $100 million and milestone payments, Orum said, without disclosing further details.
Reporting by Khushi Mandowara in Bengaluru; Editing by Dhanya Ann Thoppil and Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.
Persons:
Brian Snyder, Orum, Khushi, Dhanya Ann Thoppil
Organizations:
Bristol Myers Squibb, REUTERS, Orum Therapeutics, U.S . Food, Thomson
Locations:
Cambridge , Massachusetts, U.S, Bengaluru