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

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

December 22, 2023

Pharmaceuticals

Bristol Myers Squibb (BMS) and Karuna Therapeutics entered into a definitive merger agreement under which BMS will acquire Karuna for $330 per share in cash, valuing Karuna’s equity at about $14.0 billion (about $12.7 billion net of estimated cash acquired). The deal is expected to close in the first half of 2024, subject to customary approvals and regulatory conditions.

Cyrus Biotechnology Acquires Orthogonal Biologics and Raises $18M Series B

December 6, 2021

Biotechnology

Cyrus Biotechnology completed an acquisition of Orthogonal Biologics and closed an $18 million Series B financing to build an integrated software-and-screening pre-clinical biologics discovery firm. The financing was led by a syndicate including OrbiMed Advisors, Trinity Ventures, Agent Capital and other investors, with Selecta Bioscience joining as a strategic investor; the acquisition brings Orthogonal’s deep mutational scanning protein engineering capabilities into Cyrus’s computational discovery platform.

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.