Century Therapeutics rises on collaboration with Bristol Myers

Century Therapeutics

10/01/2022 13:00

** Shares of biotechnology company  IPSC.O  rise 13.4% to
$15.00 premarket
    ** Co enters into research collaboration and license
agreement with Bristol Myers Squibb  BMY.N  to develop and
commercialize up to four cell therapies for hematologic
malignancies and solid tumors (https://refini.tv/3GcnhaJ)
    ** Under terms of the agreement, IPSC will receive $150 mln
in cash with potential for additional $3 bln in payments plus
royalties on global net product sales
    ** IPSC will be responsible for candidate discovery and
preclinical development activities, while BMY will be
responsible for clinical development and commercialization
activities
    ** All four analysts covering IPSC stock rate it "buy" or
higher; median PT is $36 - Refinitiv data
    ** As of last close, IPSC stock had lost ~42% since June IPO

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))