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Bristol Makes Major Investment In Padlock's Autoimmune Platform

Pharma buys preclinical technology that may fight autoimmune disorders like rheumatoid arthritis with a new mechanism, blocking the creation of autoantigens that drive disease progression.

In a takeout that happened a lot sooner than anyone expected, Bristol-Myers Squibb Co. is ponying up $225m between up-front cash and what are termed "near-term contingent milestones" to acquire privately held Padlock Therapeutics Inc. and its Protein/Peptidyl Arginine Deiminase (PAD) inhibitor technology platform.

The technology platform, which offers a new approach to battling autoimmune diseases such as rheumatoid arthritis, is still being considered...

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