New York-listed drugs company Bristol-Myers Squibb has acquired corporate venture-backed Padlock Therapeutics by up to $600m, including $225m initially.
Padlock raised about $18m since inception in 2013/14 by venture capital firm Atlas Ventures and academics Paul Thompson and Kerri Mowen from a consortium including a series A round with Johnson & Johnson and Merck Ventures, and later added Index Ventures and GlaxoSmithKline.