Bristol Myers ends deal with Cellares, cell therapy manufacturer to reorg

Bristol Myers Squibb has terminated its partnership with Cellares, ending a collaborative effort to develop a blood‑cancer therapy. The withdrawal dissolves the deal that linked the pharmaceutical giant with the cell‑therapy manufacturing specialist. The announcement came on August 25, according to Reuters and Seeking Alpha. As a result, Cellares, described as a fast‑growing biotech startup, said it will reorganize its operations.

Reuters confirmed the termination of the blood‑cancer drug agreement, and Seeking Alpha reported the exit on the NYSE ticker for Bristol Myers. The loss of a large cell‑therapy manufacturing customer spurred Cellares to announce workforce reductions. The Business Journals and BioPharma Dive detailed a planned layoff of 100 employees, while Fierce Pharma quoted the CEO’s intention to “resize” the company after the setback. The combined reports suggest the company is confronting a rapid scale‑back while seeking a new strategic direction.

Cellares says it will undergo a reorganization, but the coverage does not specify the timeline, structure, or any new partner arrangements moving forward. No further information on how the reorg will affect the company’s pipeline was provided.