Bristol Myers Squibb Strengthens Cell Therapy Capabilities by Adding New U.S. Manufacturing Facility for Viral Vector Production

Rhea-AI Summary

Bristol Myers Squibb (NYSE: BMY) announced the expansion of its global cell therapy manufacturing network with the addition of in-house viral vector production capabilities at its Libertyville, Illinois facility. This development follows an agreement with Novartis to enhance the company's operations, specifically for its CAR T cell therapies. The new facility aims to address the increasing demand for viral vectors, crucial for engineering T cells for infusion therapies, thereby enabling more patients to access these treatments. The transition of the Libertyville site to Bristol Myers Squibb is expected to occur throughout 2023, supporting the company’s long-term ambitions in cell therapy.

Positive

• Expansion of cell therapy manufacturing network.
• Establishment of in-house viral vector production capabilities at Libertyville, Illinois.
• Enhances ability to meet increasing demand for CAR T cell therapies.
• Dual-sourcing vector strategy for reliable delivery of therapies.

Negative

• None.

Libertyville, Illinois facility bolsters long-term viral vector supply with multi-product, in-house viral vector production capabilities

PRINCETON, N.J.--(BUSINESS WIRE)-- Bristol Myers Squibb (NYSE: BMY) today announced expansion of its global cell therapy manufacturing network to enable in-house viral vector production through a U.S.-based manufacturing facility and its operations in Libertyville, Illinois, following the company’s execution of an agreement with Novartis. The facility and its operations have capabilities to produce viral vector for both of Bristol Myers Squibb’s CAR T cell therapies. This development advances the company’s long-term ambitions in cell therapy.

“The addition of an in-house facility for viral vector production that complements our external partnerships affords us the ability to manufacture current and next-generation vector technology, and increase future capacity,” said Karin Shanahan, executive vice president, Global Product Development & Supply, Bristol Myers Squibb. “Bringing the Libertyville site operations and employees onboard to join our expanding global cell therapy manufacturing network enhances the depth and breadth of our existing capabilities.”

Manufacturing cell therapies is both operationally and technically complex because they are created uniquely for each individual patient, using a patient’s own T cells as the starting material. Viral vectors are a key component of engineering T cells for infusion back to the patient. Because cell therapies are rapidly transforming the way we treat different types of cancers, the demand for viral vector is increasing significantly. A dual-sourcing vector strategy supports reliable delivery of Bristol Myers Squibb CAR T cell therapies to keep pace with growing demand and ensure that more eligible patients can access these treatments.

“Bringing viral vector production in-house helps us further build our leadership position in cell therapy with potential for more patients to get treated by one of our transformational cell therapies," said Lynelle Hoch, senior vice president, Global Cell Therapy Franchise Lead, Bristol Myers Squibb. “The strong demand for our differentiated and transformational cell therapies underscores their value to patients, and we are committed to pursuing opportunities to bring these treatments to patients in need.”

The company is committed to identifying opportunities to increase reliable supply of its transformational cell therapies. The facility in Libertyville, Illinois, adds to the company’s robust global network of three state-of-the-art cell therapy manufacturing facilities in Bothell, Washington; Warren, New Jersey; and Summit, New Jersey, with two additional manufacturing sites in development in Devens, Massachusetts, and Leiden, Netherlands.

The new U.S. facility is planned to transition to Bristol Myers Squibb over the course of 2023, subject to the fulfillment of applicable closing conditions.

About Bristol Myers Squibb

Bristol Myers Squibb is a global biopharmaceutical company whose mission is to discover, develop and deliver innovative medicines that help patients prevail over serious diseases. For more information about Bristol Myers Squibb, visit us at BMS.com or follow us on LinkedIn, Twitter, YouTube, Facebook and Instagram.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding, among other things, the research, development and commercialization of pharmaceutical products and the transaction. All statements that are not statements of historical facts are, or may be deemed to be, forward-looking statements. Such forward-looking statements are based on current expectations and projections about our future financial results, goals, plans and objectives and involve inherent risks, assumptions and uncertainties, including internal or external factors that could delay, divert or change any of them in the next several years, that are difficult to predict, may be beyond our control and could cause our future financial results, goals, plans and objectives to differ materially from those expressed in, or implied by, the statements. These risks, assumptions, uncertainties and other factors include, among others, any delay or inability of Bristol Myers Squibb to realize the expected benefits of the transaction. No forward-looking statement can be guaranteed. Forward-looking statements in this press release should be evaluated together with the many risks and uncertainties that affect Bristol Myers Squibb’s business and market, particularly those identified in the cautionary statement and risk factors discussion in Bristol Myers Squibb’s Annual Report on Form 10-K for the year ended December 31, 2022, as updated by our subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the Securities and Exchange Commission. The forward-looking statements included in this document are made only as of the date of this document and except as otherwise required by applicable law, Bristol Myers Squibb undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise.

Related Content:

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Source: Bristol Myers Squibb

FAQ

What recent expansion has Bristol Myers Squibb announced regarding its manufacturing capabilities?

Bristol Myers Squibb has announced the expansion of its cell therapy manufacturing network with new in-house viral vector production capabilities at its Libertyville, Illinois facility.

How will the new manufacturing facility impact Bristol Myers Squibb's CAR T cell therapies?

The new manufacturing facility will enhance Bristol Myers Squibb's capacity to produce viral vectors, crucial for CAR T cell therapies, thus allowing more patients to access these treatments.

What is the significance of the dual-sourcing vector strategy for Bristol Myers Squibb?

The dual-sourcing vector strategy supports the reliable delivery of Bristol Myers Squibb's CAR T cell therapies, which is essential to meet the growing demand for these treatments.

When is the Libertyville facility expected to transition to Bristol Myers Squibb's operations?

The Libertyville facility is planned to transition to Bristol Myers Squibb over the course of 2023, subject to the fulfillment of applicable closing conditions.