Biotechnology startup GentiBio on Wednesday struck a deal with Bristol Myers Squibb to develop a cell therapy for inflammatory bowel disease — the latest sign of the pharmaceutical industry’s interest in an emerging field of drug research.
Through the alliance, Bristol Myers will get the right to advance into clinical testing up to three programs from GentiBio. The Boston-based biotech will get an unspecified upfront payment in return and potentially up to $1.9 billion in development and sales milestones, if achieved, the companies said.
