Allied Minds & Bristol-Myers Squibb Form New Enterprise
Allied Minds & Bristol-Myers Squibb Form New Enterprise
Allied Minds and Bristol-Myers Squibb Company recently announced the formation of Allied-Bristol Life Sciences LLC, a new jointly owned enterprise created to identify and foster research and preclinical development of biopharmaceutical innovations from leading university research institutions across the US.
Allied-Bristol Life Sciences LLC will focus on efficiently and effectively converting discoveries from university research institutions into therapeutic candidates for clinical development, and ultimately approved therapies that address serious diseases. For programs identified by the new enterprise, university researchers will be able to access Bristol-Myers Squibb’s drug discovery research expertise, and Allied Minds’ financial and management experience.
“The innovations developed in US research institutions represent an important resource for scientific advancement, as well as economic development and financial returns,” said Chris Silva, Chief Executive Officer of Allied Minds. “Our partnership with Bristol-Myers Squibb combines complementary strengths, resources, reach, and expertise to create an exciting new paradigm in the drug development space.”
“Allied-Bristol Life Sciences LLC brings together cutting-edge ideas, BioPharma experience, and drug discovery expertise focused on maximizing the potential of new scientific approaches to addressing serious disease,” added Carl Decicco, Senior Vice President and Head of Discovery, Bristol-Myers Squibb. “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 LLC, which will work with university researchers to identify discoveries it believes has promising therapeutic and commercial potential, and will support the research and development needed to take these early stage opportunities from initial feasibility to preclinical candidacy. Allied Minds and Bristol-Myers Squibb together will form and fund new companies to conduct feasibility and full-phase discovery programs. Once a program succeeds in identifying a preclinical candidate, Bristol-Myers Squibb will have the option to acquire the company from Allied-Bristol Life Sciences LLC under pre-agreed terms.
Allied Minds is an innovative US science and technology development and commercialization company. Operating since 2006, the company forms, funds, manages, and builds products and businesses based on innovative technologies developed at leading US universities and federal research institutions. More information about the Boston-based company can be found at www.alliedminds.com.
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