Davis Polk is advising Bristol-Myers Squibb Company on its acquisition of IFM Therapeutics, Inc. for $300 million in cash plus the right to receive contingent payments upon the achievement of certain milestones that could exceed $1 billion. The transaction is expected to close during the third quarter of 2017, subject to customary closing conditions. The acquisition furthers Bristol-Myers Squibb’s strategy to strengthen its position in the immuno-oncology segment.
Bristol-Myers Squibb, headquartered in New York, is a global biopharmaceutical company whose mission is to develop and deliver innovative medicines that help patients prevail over serious diseases. IFM Therapeutics, headquartered in Boston, Massachusetts, is a privately held biopharmaceutical company focused on developing therapies that modulate novel targets in the innate immune system to treat cancer, autoimmunity and inflammatory disorders.
The Davis Polk corporate team includes partner Ron Cami and associates Jeffrey C. Lau, Angela J. Koo and Josephine Chen. Partner Kyoko Takahashi Lin and associate Tricia E. Walsh are providing executive compensation advice. Counsel Michelle Ontiveros Gross and associate Jason J. Bang are providing intellectual property and technology advice. Partner Rachel D. Kleinberg and Catherine L. Chu are providing tax advice. Members of the Davis Polk team are based in the Northern California and New York offices.