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Bristol-Myers Squibb Company and Flexus Biosciences, Inc. have announced the companies have signed a definitive agreement under which Bristol-Myers Squibb will acquire all of the outstanding capital stock of Flexus, a privately held biotechnology company focused on the discovery and development of novel anti-cancer therapeutic
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s.The transaction has a potential total consideration of $1.25 billion, including $800 million upfront and development milestones that, upon achievement, could total up to $450 million. The transaction has been approved by the boards of directors of both companies and by the stockholders of Flexus.The acquisition will give Bristol-Myers Squibb full rights to F001287, Flexus鈥?lead preclinical small molecule IDO1-inhibitor targeted for IND filing in the second half of 2015. In ad
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dition, Bristol-Myers Squibb will acquire Flexus鈥?IDO/TDO discovery program which includes its IDO-selective, IDO/TDO dual
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and TDO-selective compound libraries.A newly formed entity establis HYDERABAD:The death toll from consumption of toxic liquor has reportedly increased to 55 in Tando Muhammad (TM) Khan district where 29 people killed by the poisoned drink were laid to rest on Wednesday.The police have, however, confirmed 45 deaths so far, besides 32 other people who are under treatment in the hospitals. On Tuesday, a total of 122 people fell victim to the tainted liquor allegedly sold by Ali Nawaz Panhwar, the prime suspect in the FIR who has yet to be arrested.According to TM Khan deputy co
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mmissioner Agha Abdul Raheem, the post-mortem of 22 deceased persons has been done while the families of the remaining victims refused the autopsy.15 dead fr
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om alcohol poisoning near KarachiA majority of the victims belonged to the Hindu community and were gearing up to celebrate the fest
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ival of Holi on Wednesday. Their celebrations turned sour, however, when more than a 100 people suffered fatal repercussions of illicit moonshine.The police and excise authorities claimed to have st