Allied Minds & Bristol-Myers Squibb Form New Enterprise to Advance Discoveries of Biopharmaceutical Innovations at Leading U....
04 August 2014 - 4:00PM
Business Wire
Allied-Bristol Life Sciences LLC to identify and speed
development of promising science and technologies
Unique collaboration focused on transforming early-stage
academic innovation to therapeutic candidates for clinical
study
Allied Minds (LSE: ALM) and Bristol-Myers Squibb Company (NYSE:
BMY) today announced the formation of Allied-Bristol Life Sciences
LLC, a new jointly owned enterprise created to identify and foster
research and pre-clinical development of biopharmaceutical
innovations from leading university research institutions across
the U.S.
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 U.S. 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,” said 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 pre-clinical 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 pre-clinical
candidate, Bristol-Myers Squibb will have the option to acquire the
company from Allied-Bristol Life Sciences LLC under pre-agreed
terms.
About Allied Minds
Allied Minds (LSE: ALM) is an innovative U.S. 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 U.S. universities and federal
research institutions. Allied Minds serves as a diversified holding
company that supports its businesses and product
development with capital, central management and
shared services. More information about the Boston-based company
can be found at www.alliedminds.com.
Allied Minds’ investment model is to form, fund, manage and
build companies and jobs for the long term. The company takes a
majority ownership stake in each business it establishes, and
provides funding and central management so that it’s intimately
involved at each stage of strategy and growth. Allied Minds
currently works with more than 33 leading universities, several of
which exceed $1 billion each in annual research spending, as well
as 32 federal research centers and laboratories managed by the U.S.
Departments of Defense and Energy on a similar commercialization
structure. It currently has 18 operating companies in the U.S.
About Bristol-Myers Squibb
Bristol-Myers Squibb is a global biopharmaceutical company whose
mission is to discover, develop and deliver innovative medicines
that help patients prevail over serious diseases. For more
information, please visit www.bms.com or follow us on Twitter at
http://twitter.com/bmsnews.
Allied Minds Forward-Looking Statement
This press release contains statements that are or may be
forward-looking statements, including statements that relate to the
company’s future prospects, developments and strategies. The
forward-looking statements are based on current expectations and
are subject to known and unknown risks and uncertainties that could
cause actual results, performance and achievements to differ
materially from current expectations, including, but not limited
to, those risk and uncertainties described in the risk factors
included in the company’s regulatory filings. These forward-looking
statements are based on assumptions regarding the present and
future business strategies of the company and the environment in
which it will operate in the future. Each forward-looking statement
speaks only as at the date of this press release. Except as
required by law, regulatory requirement, the Prospectus Rules, the
Listing Rules and the Disclosure and Transparency Rules, neither
the company nor any other party intends to update or revise these
forward-looking statements, whether as a result of new information,
future events or otherwise.
Bristol-Myers Squibb Forward-Looking Statement
This press release contains "forward-looking statements" as that
term is defined in the Private Securities Litigation Reform Act of
1995 regarding the research, development and commercialization of
pharmaceutical products. Such forward-looking statements are based
on current expectations and involve inherent risks and
uncertainties, including factors that could delay, divert or change
any of them, and could cause actual outcomes and results to differ
materially from current expectations. No forward-looking statement
can be guaranteed. Among other risks, there can be no guarantee
that the programs mentioned in this release will lead to
identifying a pre-clinical candidate. Nor is there any guarantee
that if one is identified, Bristol-Myers Squibb will exercise its
option to acquire it, or that it will lead to an approved product.
Forward-looking statements in this press release should be
evaluated together with the many uncertainties that affect
Bristol-Myers Squibb's business, particularly those identified in
the cautionary factors discussion in Bristol-Myers Squibb's Annual
Report on Form 10-K for the year ended December 31, 2013 in our
Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K.
Bristol-Myers Squibb undertakes no obligation to publicly update
any forward-looking statement, whether as a result of new
information, future events or otherwise.
Bristol-Myers SquibbMedia:Laura Hortas,
609-252-4587laura.hortas@bms.comorKen Dominski,
609-252-5251ken.dominski@bms.comorInvestors:Ranya Dajani,
609-252-5330ranya.dajani@bms.comorRyan Asay,
609-252-5020ryan.asay@bms.comorAllied MindsArcPoint
Strategic CommunicationsChristine Dunn, 617-484-1660,
x101cdunn@arcpointstrategy.com
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