IFM Due

IFM Due was a spin-out of IFM Therapeutics LLC, an Abingworth portfolio company created after the original IFM Therapeutics Inc. was acquired by Bristol-Myers Squibb in 2017 for up to $2.3 billion. IFM Due was developing cGAS/STING antagonists for serious inflammatory and autoimmune diseases. The company was acquired by Novartis in 2024 for a $90 million upfront payment and up to $745 million in milestone payments.