Bris­tol-My­ers em­braces a pos­si­ble check­point col­lab­o­ra­tor, snag­ging a batch of stock and lin­ing up a po­ten­tial deal

Bris­tol-My­ers Squibb $BMY is bud­dy­ing up with a lit­tle biotech that just might have the key to un­lock­ing a check­point strat­e­gy for one block of can­cer pa­tients. 

The big PD-1 play­er is in­vest­ing $12 mil­lion at a pre­mi­um price in Com­pu­gen, in­trigued by ear­ly pre­clin­i­cal da­ta that in­di­cate there could be re­al po­ten­tial for their check­point strat­e­gy. That’s not a huge sum, but it’s a clear in­di­ca­tion of in­ter­est from Bris­tol-My­ers Squibb, which has lined up first rights to ne­go­ti­at­ing a li­cens­ing pact with Com­pu­gen.

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