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Value Unlocked: BMS Buying Padlock For Up To $600m

 
• By Mandy Jackson

Two years, $18m and a big pharma buyout for up to $600m? That's a great return for investors in Padlock Therapeutics Inc., a biotech firm that raised a single venture capital round in late 2014 to develop novel treatments for autoimmune diseases before Bristol-Myers Squibb Co. agreed to buy the company.

Two years, $18m and a big pharma buyout for up to $600m? That's a great return for investors in Padlock Therapeutics Inc., a biotech firm that raised a single venture capital round in late 2014 to develop novel treatments for autoimmune diseases before Bristol-Myers Squibb Co. agreed to buy the company.

Cambridge, Massachusetts-based Padlock is focused on the development of drugs that inhibit protein-arginine deiminase (PAD) enzymes, which turn healthy proteins into neoantigens known as citrullinated protein antigens, triggering an unnecessary immune system attack. PAD enzyme inhibition could be an effective way to treat autoimmune diseases, such as rheumatoid arthritis (RA), before severe disease progression

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