Bain Capital Immunology

Bain Capital Immunology is an independent biopharmaceutical company formed in July 2025 through a strategic collaboration between Bristol Myers Squibb (BMS) and Bain Capital. The company was launched with a $300 million financing commitment led by Bain Capital and a portfolio of five immunology assets in-licensed from BMS. Its lead program is afimetoran, an oral TLR7/8 inhibitor currently in Phase 2 clinical trials for systemic lupus erythematosus. The pipeline also includes a TYK2 inhibitor with Phase 2 proof-of-concept in plaque psoriasis, an IL-2 fusion protein in Phase 1, and two Phase 1-ready biologics targeting the IL-18 and IL-10 pathways. Led by industry veteran Daniel S. Lynch, the company focuses on addressing significant unmet medical needs in autoimmune and inflammatory diseases. This spinout allows for the dedicated development of these promising candidates while leveraging Bain Capital's expertise in building successful life science platforms.