Bristol Myers Squibb has created a new spinout company focused on autoimmune diseases, transferring five assets including three clinical-stage drugs. The new entity is backed by $300 million from Bain Capital-led financing. This move supports BMS’s strategic cost-cutting and portfolio optimization, enabling concentrated development of selected immunology therapies while maintaining pipeline productivity. The spinout aligns with industry trends of biopharma firms forming specialized companies for specific therapeutic focuses.