- Bristol Myers Squibb Co (NYSE:BMY) is pairing with New York-based biotech Volastra Therapeutics.
- The companies announced a multi-year R&D collaboration, with Bristol Myers paying $30 million upfront to Volastra and throwing in a potential $1.1 billion in milestones, plus an additional opportunity for royalties.
- Volastra, founded by Lewis Cantley, Olivier Elemento, and Samuel Bakhoum, closed an expanded $44 million seed round in April 2021.
- Also Read: FDA Approves Bristol-Myers' Opdualag, First LAG-3-Blocking Antibody Combo, For Melanoma Patients.
- Volastra's CINtech platform harnesses a deep biological understanding of chromosomal instability (CIN) as cancer's most targetable vulnerability to develop promising therapies for patients.
- CINtech integrates proprietary imaging technologies, model cell line systems, and computational analytics to drive the pipeline.
- Price Action: BMY shares are down 0.31% at $70.80 during the market session on the last check Monday.
