Key Takeaways Bristol Myers and Bain Capital formed a new biotech focused on autoimmune disease therapies.BMY will out-license five immunology candidates and retain a 20% equity stake in the new firm.Bain will invest $300M while BMY earns milestones, royalties, and a board seat via its research chief.Bristol Myers (BMY) recently collaborated with Bain Capital to create a new independent biopharmaceutical company, which will be focused on developing new therapies for autoimmune diseases that address signific ...