Bristol-Myers Squibb signs new development agreement for autoimmune disorders treatments

Bristol-Myers Squibb has signed an agreement with Tsinghua University aimed at developing new treatments for autoimmune diseases and cancer. Specifically, the Innovation Center for Immune Therapy of Tsinghua University will carry out research, while Bristol-Myers Squibb will have an option to license on the developed investigational drugs. Bristol-Myers Squibb’s shares have risen over 4% today, on rumors of recovery after dropping over 8% YTD.

(Source: BMS)