Bristol-Myers Squibb said it would buy privately held drugmaker Flexus Biosciences for up to $1.25 billion, adding an emerging class of cancer-fighting drugs to its pipeline.

The deal value includes $800 million in an upfront payment and up to $450 million of milestone payments.

Separately, Bristol-Myers signed a deal with Rigel Pharmaceuticals to develop a line of cancer therapies that can be used with Bristol-Myers’s immunotherapy cancer drugs Opdivo and Yervoy.
Bristol-Myers will pay Rigel $339 million, including milestones, bringing the BMS current investment in cancer treatments to $1.59 billion.