The increasing focus on biologics that has gripped big pharma was recently demonstrated in the US$430 M acquisition of Adnexus Therapeutics by Bristol-Myers Squibb (BMS). For a small biotech that has been in operation for only 5 years this acquisition is certainly a lucrative opportunity, and is wholly due to the company's innovative PROfusion#8482; technology, and the pipeline of Adnectins#8482; that Adnexus has derived using it. This feature takes a look at Adnexus' history and technology, and at BMS' biologics deals and products, including its acquisitions record, speculation that it is a takeover target. It also discusses the current place that BMS has in the biologics field.