Big financial news ending April – Bristol-Myers Squibb buying iPierian – some coverage:
San Francisco Business Times: Bristol-Myers Squibb buys iPierian for $175 million in cash
“Bristol-Myers Squibb Co. paid $175 million cash for iPierian Inc., one of the early companies set up around technology that switches mature stem cells into stem cells that can be manipulated to form various tissue.
The companies said Tuesday that Bristol-Myers Squibb (NYSE: BMY) also could pay another $550 million over time in development and regulatory milestones around iPierian drugs aimed at neurodegenerative diseases such as Alzheimer’s disease.”
Xconomy: Seeking Tau: BMS Buys iPierian and Brain-Disease Program for $175M
Born five years ago from the merger of two cutting-edge stem cell companies, iPierian has agreed to an acquisition. Bristol-Myers Squibb is buying the South San Francisco-based biotech firm for $175 million upfront, with potentially $550 million more based on the progress of iPierian’s pipeline of antibodies to treat tau-mediated neurodegenerative disease.
GEN: BMS Acquires iPierian for Up to $725M
The deal gives BMS full rights to iPierian’s lead asset IPN007, a preclinical anti-Tau antibody set to start Phase I trials early next year. While the companies today emphasized IPN007’s promise for treating tauopathies that include progressive supranuclear palsy (PSP), iPierian has promoted the antibody as a potential treatment for Alzheimer’s as well as Frontotemporal dementia, an Alzheimer’s-like disorder in which patients often display strong behavioral changes and/or movement disorders with memory loss advancing later in the disease progression.