Cell therapy company Century Therapeutics will receive a $100 million up front payment and $50 million in equity investment from Bristol Myers Squibb in a deal announced Monday. Under the agreement, Bristol Myers Squibb will develop and commercialize up to four of Century’s programs for cancer therapies made from induced pluripotent stem cells, which can be generated from adult human tissue.
The agreement stands to bolster cell therapy research in the Seattle area. Bristol Myers Squibb’s cell therapy and immuno-oncology research hub is based in the region, and Philadelphia-based Century has an “innovation hub” in Seattle.
