On August 24, 2020, Bristol Myers Squibb entered into a definitive agreement to acquire Forbius. The acquisition will allow Bristol Myers Squibb to extend its leading position in oncology and include new pathways to serve more patients. Under the transaction Bristol Myers Squibb will acquire Forbius’s TGF beta program which includes the program’s lead investigational asset, AVID200. Bristol Myers Squibb plans to focus its research and development of AVID200 in oncology and may consider applications in other disease areas like fibrosis.
Bristol Myers Squibb is a global biopharmaceutical company specializing in the discovery, development and delivery of innovative medicines that help patients prevail over serious diseases.
Forbius is a clinical stage protein engineering company focused on the development of biotherapeutics to treat fibrosis and cancer. Forbius has developed a portfolio of highly selective and potent inhibitors of TGF beta 1 & 3 which are key mediators of immunosuppression and fibrosis. Forbius’s TGF beta 1 &3 inhibitor, AVID200 has completed Phase 1a clinical trials in one fibrotic indication and in solid tumors.
Osler, Hoskin & Harcourt LLP advised Bristol Myers Squibb with a team led by Mark Brender (Taxation) and Niko Veilleux (Corporate / M&A) and consisting of Alain Fournier and Jean-Philippe Dionne (Taxation), Calvin Leung and Matthew Oliver (Corporate / M&A), Barry Fong (Intellectual Property), Kristin Ali (Privacy), Julien Ranger (Employment & Labour) and Michelle Lally (Regulatory).