BMS sets up US research university initiative
pharmafile | August 4, 2014 | News story | Medical Communications, Research and Development, Sales and Marketing | BMS, academia, university
Allied Minds has teamed up with Bristol-Myers Squibb to create Allied-Bristol Life Sciences, a new enterprise designed to foster research of potential new medicines from US universities.
Allied-Bristol Life Sciences will focus on converting discoveries from university research into drug candidates for clinical development, in the hope that they will one day be marketed.
For programmes identified by the new enterprise, university researchers will be able to access BMS’s drug discovery research expertise, and Allied Minds’ financial and management experience.
“The innovations developed in U.S. research institutions represent an important resource for scientific advancement, as well as economic development and financial returns,” said Chris Silva, chief executive of Allied Minds, and science and tech financial development firm.
“Our partnership with Bristol-Myers Squibb combines complementary strengths, resources, reach and expertise to create an exciting new paradigm in the drug development space.”
Carl Decicco, senior VP and head of discovery at Bristol-Myers Squibb, adds: “Allied-Bristol Life Sciences LLC brings together cutting-edge ideas, biopharma experience and drug discovery expertise focused on maximising the potential of new scientific approaches to addressing serious disease.”
“We believe this new venture will enhance the translation of early-stage academic research and will ultimately help advance important potential new medicines more efficiently.”
Under the terms of the agreement, the companies have jointly formed and funded Allied-Bristol Life Sciences, which will work with university researchers to identify discoveries it believes has promising therapeutic and commercial potential.
It will also support the R&D needed to take these early-stage medicines to become a candidate for pre-clinical studies.
Allied Minds and Bristol-Myers Squibb together will form and fund new companies to conduct feasibility and full-phase discovery programmes.
Once a programme succeeds in identifying a pre-clinical candidate, BMS will have the option to acquire the company from Allied-Bristol Life Sciences under pre-agreed terms.
Ben Adams
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