Bain Capital and Bristol Myers Squibb Launch NewCo with $300M to Develop Immunology Therapies

Bristol Myers Squibb (BMS) and Bain Capital have created a new independent biopharmaceutical company (NewCo) to advance five licensed immunology assets, with Bain Capital committing $300 million and support from the Canada Pension Plan Investment Board. BMS licensed three clinical-stage and two Phase 1-ready programs to NewCo and will retain nearly a 20% equity stake while joining the new company's board.