Bristol Myers Squibb to Acquire Karuna Therapeutics in $14.0B Deal

Bristol Myers Squibb to Acquire Turning Point Therapeutics

June 3, 2022

Healthcare Services

Bristol Myers Squibb (BMS) entered a definitive merger agreement to acquire Turning Point Therapeutics for $76.00 per share in an all-cash transaction valued at $4.1 billion. The deal was expected to close in Q3 2022 via a tender offer followed by a second-step merger. BMS later announced that it completed the acquisition, making Turning Point a wholly owned subsidiary.

Bristol Myers Squibb to Acquire Orbital Therapeutics in $1.5 Billion Deal

October 11, 2025

Biotechnology

Bristol Myers Squibb (BMS) has entered into an agreement to acquire Orbital Therapeutics, a privately held biotechnology company developing RNA medicines. The $1.5 billion cash deal will give BMS Orbital’s lead candidate OTX-201 and its proprietary RNA platform, supporting BMS’s efforts to advance in vivo CAR T and immunotherapy approaches.

Bristol Myers Squibb to Acquire Mirati Therapeutics in $4.8B Cash-and-CVR Deal

October 13, 2023

Pharmaceuticals

Bristol Myers Squibb has entered into a definitive merger agreement to acquire Mirati Therapeutics for $58 per share in cash, valuing the transaction at $4.8 billion in equity value. The deal also includes a non-tradeable contingent value right (CVR) that could provide up to an additional $1 billion of value tied to regulatory acceptance of an NDA for Mirati’s MRTX1719.

Bristol Myers Squibb Acquires RayzeBio for $4.1 Billion

December 26, 2023

Healthcare Services

Bristol Myers Squibb (BMS) and RayzeBio have announced a definitive merger agreement under which BMS will acquire RayzeBio for $62.50 per share in cash, valuing the equity at approximately $4.1 billion. The deal is expected to close in the first half of 2024, subject to customary closing conditions.

Kintara Therapeutics Proposed Merger with TuHURA Biosciences

October 14, 2024

Biotechnology

Kintara Therapeutics entered into a definitive merger agreement with TuHURA Biosciences and Kayak Mergeco, Inc., under which Kayak Mergeco will merge into TuHURA with TuHURA surviving and becoming a direct, wholly-owned subsidiary of Kintara. The transaction is expected to close on October 18, 2024, subject to regulatory approval and remaining closing conditions, and includes the issuance of contingent value rights (CVRs) tied to milestones.

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

July 31, 2025

Biotechnology

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.