Celgene Backs Immunotherapy Company Biond Biologics
Biond develops immunotherapies for cancer and autoimmune diseases
Founded in 2016, Biond develops immunotherapies for cancer and autoimmune diseases. The company was founded by the scientific team of cCAM Biotherapeutics Ltd., an immuno-oncology company which was acquired by Merck in 2015 for $606 million. In a statement, Biond said it intends to use the funding to move its lead drug candidate, BION-202, into clinical trials.
On Tuesday, Celgene announced that New York-listed bio-pharmaceutical company Bristol-Myers Squibb has agreed to buy it for $74 billion.