ARTICLE | Finance
Echoing Springworks, Cerevel, Bain builds newco with BMS immunology assets
The private equity firm’s life sciences unit backs start-up with rights to five programs
July 29, 2025 9:48 PM UTC
Bain’s life sciences unit is again investing a nine-digit sum in a start-up that will seek to advance programs externalized by a pharma — in this case, an immunology pipeline from BMS.
The firm has led a $300 million commitment to a yet-to-be named company that will house five assets from Bristol Myers Squibb Co. (NYSE:BMY), echoing the strategy Bain Capital Life Sciences (BCLS) pursued when it invested in Cerevel Therapeutics LLC and Springworks Therapeutics Inc. Both of those companies were created as spinouts from Pfizer Inc. (NYSE:PFE), and each was eventually sold to a different pharma in a multibillion-dollar takeout...