Bristol Myers, Century Therapeutics Ink Pact For iPSC-Derived Allogeneic Cell Therapies

Century Therapeutics Inc IPSC and Bristol Myers Squibb Co BMY have announced a research collaboration and license agreement for up to four induced pluripotent stem cell (iPSC) programs for hematologic malignancies and solid tumors. 

• The first two programs include a program in acute myeloid leukemia and a program in multiple myeloma, which could incorporate either the iNK or a gamma delta iT platform. 
• Bristol Myers Squibb has the option to add two additional programs.
• Century will be responsible for development candidate discovery and preclinical development activities. 
• After that, Bristol Myers Squibb will be responsible for clinical development and commercialization subject to Century's co-promotion rights on certain programs. 
• Century will receive a $100 million upfront payment, and Bristol Myers Squibb will make a $50 million equity investment in Century Therapeutics' common stock at $23.14 per share. 
• In addition, Century will receive reimbursement of certain preclinical development costs and is eligible for additional milestone payments totaling more than $3 billion across the four potential programs.
• Price Action: IPSC shares are up 17.10% at $15.48, and BMY stock is up 0.37% at $63.06 during the premarket session on the last check Monday.