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Bristol Myers Squibb, Medic Life Sciences Collaborate on Tumor Target Discovery

NEW YORK – Medic Life Sciences said on Monday that it has entered into a research collaboration with Bristol Myers Squibb on target discovery for solid tumors.

Under the terms of the deal, Medic will use its 3D tumor models to perform CRISPR-based functional genomic screens in solid tumor indications. The startup will also use its immune cell and tumor cell co-culture platform to identify novel genes relevant to immune cell-based elimination of cancer cells. Medic will receive upfront payments and will be eligible for additional option payments on a target-by-target basis, as well as future development and regulatory milestone payments.

Other terms of the deal were not disclosed.

Founded in 2020, Medic is a graduate of the Illumina Accelerator program. In a statement, the firm added that it has received an undisclosed amount of funding from TOP Harvest Capital, Primer Sazze Partners, Big Basin Capital, and First In Ventures.