PRINCETON, N.J. - Bristol Myers Squibb (NYSE: NYSE:BMY) has entered into a global agreement with Cellares Corporation to expand the manufacturing of CAR T cell therapies, a move aimed at meeting the surging demand for these innovative treatments. The deal, valued at up to $380 million, includes upfront and milestone payments and will involve the deployment of Cellares' Cell Shuttle and Cell Q systems across the United States, European Union, and Japan.
The collaboration is designed to enhance Bristol Myers Squibb’s existing global network of cell therapy manufacturing facilities, providing a more agile and scalable solution. The use of Cellares' technology, which offers full automation and high-throughput capabilities, is expected to improve the efficiency and potentially reduce the turnaround time for the production of CAR T therapies.
Lynelle B. Hoch, president of the Cell Therapy Organization at Bristol Myers Squibb, emphasized the importance of the agreement in supporting the company's comprehensive strategy to deliver transformative treatments to patients rapidly. The partnership with Cellares is set to strengthen Bristol Myers Squibb’s manufacturing capabilities by integrating an end-to-end automated platform.
Cellares’ CEO Fabian Gerlinghaus expressed his company's commitment to accelerating the access to cell therapies globally through the establishment of automated Smart Factories. This collaboration is aligned with Cellares' strategy to cater to the growing worldwide demand for cell therapy.
This agreement builds upon previous collaborations between the two companies, including Bristol Myers Squibb’s participation in Cellares’ Series C financing in August 2023 and the joint evaluation of the Cell Shuttle's automated manufacturing capabilities.
Cell therapies are considered a significant advancement in the treatment of various diseases, and this partnership reflects the industry's push towards optimizing the manufacturing process to keep pace with the increasing demand for such treatments.
This news is based on a press release statement from Bristol Myers Squibb and Cellares.
InvestingPro Insights
In the context of Bristol Myers Squibb's (NYSE: BMY) recent global agreement with Cellares Corporation, InvestingPro data and tips offer a unique perspective on the company's financial health and market position. With a market capitalization of $99.17 billion and a low P/E ratio of 10.51 for the last twelve months as of Q4 2023, Bristol Myers Squibb appears to be trading at a valuation that may interest value-oriented investors. The company's commitment to innovation in cell therapy manufacturing could be supported by its financial stability and the ability to invest in such advanced technologies.
The company also boasts a strong gross profit margin of 76.63% for the last twelve months as of Q4 2023, which may provide the necessary financial flexibility to pursue such strategic partnerships and research endeavors. Additionally, Bristol Myers Squibb has maintained a notable dividend yield of 4.9% as of April 2023, which could be appealing to income-focused investors, especially considering the company's history of dividend payments for 54 consecutive years.
InvestingPro Tips highlight that management has been aggressively buying back shares and the stock is trading near its 52-week low, indicating a potential opportunity for investors to consider the stock at a possibly undervalued price. The company's prominence in the Pharmaceuticals industry and its low price volatility are key factors that might contribute to investor confidence, especially in the face of market uncertainties.
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As the company prepares for its next earnings date on April 25, 2024, investors and analysts alike will be keen to see how the strategic moves like the collaboration with Cellares will influence Bristol Myers Squibb's financial trajectory and its positioning within the rapidly evolving cell therapy sector.
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