Shots:

• Century to receive a $100M up front, $50M in an equity investment in its common stock at $23.14/ share & is eligible to receive reimbursement of preclinical development costs, $3B+ in milestone for 4 programs along with royalties
• Century gets the rights to co-promote AML & 1 additional program in the US with no exercise fee & will lead the discovery & preclinical activities. BMS get an option for 2 additional programs & will lead the clinical development & commercialization activities
• The collaboration combines Century’s iPSC-derived allogeneic cell therapy platform with BMS’ expertise to develop allogeneic cell therapies for hematologic & solid tumor malignancies

Ref: BMS | Image: BMS