BMS invests in LSP's fifth fund

LSP said Tuesday it formed a strategic collaboration with Bristol-Myers Squibb Co. (NYSE:BMY), which made an undisclosed investment in the firm's fifth fund. The investment in LSP 5 is BMS's first in a European healthcare fund. BMS is an LP in U.S.-based Polaris Partners' seventh fund.

LSP said the partners will "work closely together in identifying European breakthrough technologies and products in immuno-oncology and other areas of unmet medical need." BMS VP of Business Development Donnie McGrath joined the fund's advisory board. ...