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Deals And M&A NEWS
Retool I-O relationship

Celgene Corp. "kicked the tires" in 2012 and took a test drive two years later, but won't be motoring off the lot with Sutro Biopharma Inc., although the companies did agree to a relationship that puts wheels on Sutro's other partnering efforts.

Two-year-old IFM Therapeutics Inc. became the latest biopharma unicorn, as Bristol-Myers Squibb Co. picked up the Boston-based company for $300 million up front and another $1.01 billion in potential milestones.

Mallinckrodt plc said it plans to acquire Infacare Pharmaceutical Corp., the developer of a late-stage severe jaundice treatment, for $80 million up front plus up to $345 million in potential milestone payments.

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