Century Therapeutics Announces Termination of Collaboration Agreement with Bristol-Myers Squibb

Century Therapeutics, Inc. (NASDAQ: IPSC) recently disclosed the termination of its Research, Collaboration, and License Agreement with Bristol-Myers Squibb Company (BMS). The collaboration aimed at advancing induced pluripotent stem cell derived, engineered natural killer cell, and/or gamma delta T cell programs for hematologic malignancies.

As per the 8-K filing with the Securities and Exchange Commission, BMS informed Century Therapeutics on December 12, 2024, about its decision to terminate the Collaboration Agreement without cause. The effective date of the termination is set for March 12, 2025. Despite the conclusion of the collaboration, Century Therapeutics remains optimistic about the scientific progress made on the programs and intends to assess opportunities in acute myeloid leukemia and multiple myeloma within the framework of its ongoing strategic review of the pre-clinical pipeline. Both companies have agreed to collaborate in accordance with the termination provisions specified in the Collaboration Agreement.

Century Therapeutics, a Delaware-based company, is registered on the Nasdaq Global Select Market under the trading symbol IPSC. The company’s principal executive offices are located in Philadelphia, Pennsylvania.

The Form 8-K filing revealed that Century Therapeutics is not considered an emerging growth company as defined by Rule 405 of the Securities Act of 1933. The company also indicated that it has not opted to utilize the extended transition period for complying with new or revised financial accounting standards.

Brent Pfeiffenberger, Pharm.D., President, and Chief Executive Officer of Century Therapeutics, signed the report on behalf of the company on December 13, 2024.

This news marks a significant development in the collaboration landscape of Century Therapeutics and underscores the company’s commitment to exploring strategic opportunities in the field of oncology research and development.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Century Therapeutics’s 8K filing here.

Century Therapeutics Company Profile

Century Therapeutics, Inc, a biotechnology company, engages in the development of genetically engineered allogeneic cell therapies for the treatment of solid tumor and hematological malignancies. Its lead product candidate is CNTY-101, an allogeneic, induced pluripotent stem cells (iPSCs)-derived chimeric antigen receptors (CAR)-iNK cell therapy, under Phase 1 trials targeting CD19 for relapsed, refractory B-cell lymphoma.