Cormorant Pharmaceuticals

Cormorant Pharmaceuticals was a Swedish biotechnology company focused on developing innovative therapies for cancer and rare diseases. The company's lead program, HuMax-IL8 (now BMS-986253), is a human monoclonal antibody that targets interleukin-8 (IL-8), a cytokine known to promote tumor growth and suppress immune responses. Originally licensed from Genmab, the asset was developed to enhance the efficacy of existing cancer treatments by neutralizing the immunosuppressive tumor microenvironment. In 2016, the company was acquired by Bristol Myers Squibb for up to $520 million to strengthen its immuno-oncology pipeline. The acquisition allowed for the exploration of IL-8 inhibition in combination with Bristol Myers Squibb's established checkpoint inhibitors like Opdivo. Cormorant operated as a lean, venture-backed entity primarily supported by HealthCap before its successful exit.