IFM Therapeutics ‘Lather, Rinse, Repeat’ Strategy On Track With $55M Financing

 
• By Jessica Merrill
  
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The drug discovery company with a big pharma deal-making track record is launching a new subsidiary, IFM Quattro, and a drug discovery incubator, IFM Discovery. Scrip talked to IFM's new CEO Martin Seidel about what is ahead for the company.

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IFM Therapeutics is lathering up its next round of drug discovery • Source: Shutterstock

After completing two lucrative business deals with Bristol-Myers Squibb Co. and Novartis AG, privately-held drug discovery firm IFM Therapeutics LLC is doubling down on the strategy with plans to deliver more novel drugs into the hands of big pharma. The company announced on 2 December the completion of a $55.5m financing that it will use to launch a new subsidiary, IFM Quattro, and a drug discovery incubator, IFM Discovery.

It is an impressive new financing round for a company that has already delivered multiple deals with big pharma partners...

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