Bristol Myers To Build First Cell Therapy Factory In Europe

• Bristol-Myers Squibb Co (NYSE: BMY) continues to scale its CAR-T operations with the latest move to open its first cell manufacturing site in Europe and fifth worldwide.

• BMY is set to build a new cell therapy site in Leiden, the Netherlands. Financial terms were not disclosed.

• The site design planning and development are underway, with construction expected to kick off later this year.

• The company's swift cell therapy scale-up follows the FDA green lights for its closely-watched CAR-T therapies Breyanzi and Abecma.

• Abecma (idecabtagene vicleucel; ide-cel), approved in March, is a BCMA-directed chimeric antigen receptor (CAR) T cell immunotherapy to treat relapsed or refractory multiple myeloma.

• Breyanzi (lisocabtagene maraleucel; liso-cel) was approved in February. It is a CD19-directed CAR-T cell therapy for relapsed or refractory large B-cell lymphoma.

• None of these treatments are approved in Europe.

• Price Action: BMY shares are down 0.09% at $66.26 in premarket on the last check Thursday.

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