Boston biotech IFM Therapeutic LLC is taking a second major step out from drug giant Bristol-Myers Squibb's wake this week, spinning out its second subsidiary focused on developing treatments for autoimmune and central nervous system diseases.
IFM Due (pronounced du-way) was launched Feb. 11 by the team behind IFM Therapeutics, which Bristol-Myers Squibb (NYSE: BMY) purchased in 2017 for $300 million upfront and upwards of $2 billion in milestone payments.
