Flexus Biosciences, Bristol-Myers deal

Bristol-Myers will acquire Flexus for $800 million up front and up to $450 million in development milestones. The companies said the deal will close this quarter. Flexus’ F001287, a small molecule inhibitor of indoleamine 2,3-dioxygenase 1 (IDO1), is in preclinical testing to treat cancer. BMS will also gain Flexus’ discovery platform for IDO and tryptophan 2,3-dioxygenase ( TDO2; TDO) inhibitors. BMS said it plans to submit an IND in 2H15 for F001287. ...