Bristol-Myers Squibb has completed the acquisition of US-based Padlock Therapeutics in a deal valued at $600m.

In March, Bristol-Myers signed a definitive agreement to acquire Padlock.

The deal includes full rights to Padlock’s protein / peptidyl arginine deiminase (PAD) inhibitor discovery programme that is focused on the development of potentially transformational treatment approaches for patients with rheumatoid arthritis (RA) and other autoimmune diseases.

RA is a systemic, chronic, autoimmune disease characterised by inflammation in the lining of joints (or synovium), causing joint damage with chronic pain, stiffness and swelling.

It is more common in women than in men, who account for 75% of patients diagnosed with RA.

Bristol-Myers Squibb executive vice-president Francis Cuss said: "Targeting PAD enzymes has the potential to be one of the most innovative mechanisms for treating autoimmunity, which both strengthens and accelerates our immunoscience pipeline.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

"By pursuing a treatment approach, which may address disease progression earlier, we hope to transform the lives of patients with RA and other autoimmune diseases."

PADs are enzymes that produce autoantigens, which play an active role in the development and progression of RA and other autoimmune diseases.

"Targeting PAD enzymes has the potential to be one of the most innovative mechanisms for treating autoimmunity."

The inhibition of PADs helps to prevent progression of autoimmune diseases early in their evolution, which could lead to a paradigm shift in the treatment of identifiable high risk patients with pre and early-RA, by preventing disease development and resulting joint destruction.

PAD4 inhibition in combination with current standard of care therapies may increase and maintain the durable remission rates in RA patients with rapidly progressive disease.

Padlock Therapeutics CEO Michael Gilman said: "By targeting PADs, it may be possible to eliminate the antigens that drive autoimmunity with limited impact on the immune system, thereby creating breakthrough treatments."

The Committee for Medicinal Products for Human Use (CHMP) at the European Medicines Agency recently recommended the approval of Bristol-Myers’ Opdivo in combination with Yervoy for the treatment of advanced (unresectable or metastatic) melanoma in adults.

Image: A Bristol-Myers Squibb R&D facility in the US. Photo: courtesy of Coolcaesar.