Bristol Myers Squibb clinches acquisition of Forbius

Bristol Myers Squibb announced that it has successfully completed its transaction to acquire Forbius for their TGF-beta program, including its lead investigational asset AVID200, currently in Phase 1 for oncology and fibrosis.

“We are pleased to complete the transaction with Forbius and add their TGF-beta program to our growing pipeline of innovative assets,” said Rupert Vessey, Executive Vice President and President, Research & Early Development, Bristol Myers Squibb.

Pursuant to the terms of the transaction, Forbius’ non-TGF-beta assets were transferred to a newly formed private company which is being retained by Forbius’ existing shareholders.

Davis Polk & Wardwell LLP and Osler, Hoskin & Harcourt LLP served as legal advisors to Bristol Myers Squibb.

TGF-beta isoforms 1 and 3 are believed to be central mediators of tumour microenvironment (TME). Selective inhibition of TGF-beta 1 and 3 is proposed to enhance anti-tumour efficacy by acting synergistically with immunotherapy and has broad potential as an anti-fibrotic therapy across several indications with high unmet need.