Agreement on combo immunotherapy between Bristol-Myers Squibb and Compugen

US-based multinational Bristol-Myers Squibb (BMS) yesterday announced it plans to invest $12m in shares of the Israel-based biotech Compugen, in order to fund the clinical trials of investigational drug COM701, which will be tested in combination with immunotherapy Opdivo. Through the agreement, BMS acquires 2.4m shares for $4.95 per share, paying a 33% premium. The clinical trial will be conducted on 4 solid cancer types: lung , breast, ovarian and endometrial cancer.

(Source: Globe)