Bristol-Myers Squibb gains option to buy Galecto Biotech for up to $444 million

Bristol-Myers Squibb gained an option to acquire Galecto Biotech, along with its experimental drug TD139 for idiopathic pulmonary fibrosis (IPF), under a deal potentially worth up to $444 million, the companies reported Monday. The transaction includes an option fee and an option exercise fee, as well as clinical and regulatory milestone payments.