Pharmaceutical company Bristol Myers Squibb, in collaboration with Bain Capital, establish a fresh immunology start-up with a $300 million financial backing.
NewCo: A Promising Venture in Autoimmune Disease Therapies
Bristol Myers Squibb (BMS) and Bain Capital have joined forces to form a new biopharmaceutical company, NewCo, with a mission to develop innovative therapies for autoimmune diseases. The joint venture, launched in mid-2025, has a $300 million financing commitment from Bain Capital and licensed five immunology assets from BMS [1][2][3][4].
NewCo's pipeline includes five investigational medicines targeting autoimmune diseases, primarily focusing on novel mechanisms and conditions with unmet medical needs. Three candidates are already in clinical stages, with afimetoran, an oral TLR7/8 inhibitor, in Phase 2 trials for systemic lupus erythematosus (SLE), and BMS-986322, an oral TYK2 inhibitor, showing positive Phase 2 proof-of-concept data in plaque psoriasis [2]. Another candidate, BMS-986326, a novel IL2 fusion protein, is in Phase 1 trials for SLE and atopic dermatitis, alongside two Phase 1-ready biologics targeting the IL18 and IL10 pathways [2].
The assets were developed through BMS’s prior research and represent innovative approaches to modulating immune responses and supporting tissue repair [1][3]. Dr. Robert Plenge, BMS’s Chief Research Officer, has joined NewCo’s Board to provide scientific oversight, and Daniel S. Lynch serves as Executive Chairman and interim CEO [1][2].
Bain Capital's investment is backed by a quote stating, "These assets have significant potential, and we are confident that this new company will drive their development to ensure greater impact for patients." [1] Adam Koppel, a Partner at Bain Capital Life Sciences, expresses his excitement about the opportunity to build an innovative biotech company [1].
The joint venture structure allows BMS to retain about a 20% equity stake in NewCo, continuing to receive royalties and milestone payments based on the success of these therapies [1][2]. NewCo aims to leverage its company creation experience to build out the platform and work towards advancing distinct assets to bring innovative, high-quality therapies to patients with autoimmune diseases [1][4].
Both BMS and Bain Capital share a commitment to improving lives through science, and this partnership is a testament to their shared vision for the future of healthcare [1]. Julie Rozenblyum, Senior Vice President, Business Development at BMS, expresses her excitement about partnering with Bain Capital [1]. The new company's focus is on developing promising therapies, such as afimetoran, which is in Phase 2 trials for SLE, and BMS-986322, which has proof-of-concept in Phase 2 for plaque psoriasis [1].
In summary, NewCo has established promising progress through a diversified pipeline centered on autoimmune diseases like lupus and psoriasis. Its potential impact lies in developing potentially best-in-class immunology therapies that address significant unmet needs by resetting the immune system and promoting tissue repair, supported by strong financial backing and strategic leadership from both BMS and Bain Capital [1][2][3][4].
- With Bain Capital's financial backing and a commitment to investing in health-and-wellness, NewCo aims to leverage private equity to advance distinct assets, bringing innovative treatments for autoimmune diseases like systemic lupus erythematosus (SLE) and plaque psoriasis to patients.
- The joint venture between Bristol Myers Squibb (BMS) and Bain Capital, known as NewCo, is focused on the development of therapies targeting science-backed solutions for medical-conditions such as autoimmune diseases, with a primary goal of creating therapies and treatments that can reset the immune system and promote tissue repair.
- As part of their shared vision for the future of healthcare, BMS and Bain Capital have partnered to create NewCo, a promising endeavor in autoimmune disease therapies focused on investing in research, developing therapies-and-treatments, and driving their development to ensure greater impact for patients.
