Following a string of deals centred around immuno-oncology, Bristol-Myers Squibb has entered into an agreement to acquire Swedish biotech, Cormorant Pharmaceuticals, for up to US$520 M including upfront and contingent payments. The biotech’s flagship candidate is its interleukin (IL)-8 directed antibody, HuMax®-IL8, which is in Phase I/II trials to treat solid tumours and has the potential for a combination regimen with existing immunotherapies.