Bristol-Myers Squibb Company (NYSE:BMY) will acquire Padlock Therapeutics, a biotechnology company focused on creating medicines that address destructive autoimmune diseases. The transaction is part of Bristol-Myers efforts to strengthen and accelerate the company’s immunoscience pipeline.

Padlock, based in Bristol, Massachusetts, will give Bristol-Myers full rights to its protein/peptidyl arginine deiminase (PAD) inhibitor discovery program, which treats patients with rheumatoid arthritis (RA), and may also prove useful in treating systemic lupus erythematosus and other autoimmune diseases.

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