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BMS Buying Padlock For Up To $600 Million

 
• By Mandy Jackson

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

Two years, $18 million and a big pharma buyout for up to $600 million? 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, MA-based Padlock is focused on the development of drugs that inhibit protein-arginine deiminase (PAD) enzymes, which turn healthy proteins...

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