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news.Bristol-Myers Squibb (BMS) and Allied Minds have formed a new jointly-owned enterprise, Allied-Bristol Life Sciences, to identify and foster research and pre-clinical development of biopharmaceutical innovations from leading university research institutions across the US.
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The new jointly-owned enterprise will work with researchers at the US university research institutions to identify discoveries that have therapeutic and commercial potential.
Allied-Bristol Life Sciences will also support the research and development needed to take these early-stage opportunities from initial feasibility to pre-clinical candidacy.
It is expected to efficiently and effectively transform early-stage academic innovation into therapeutic candidates for clinical study, and ultimately approved therapies that address serious diseases.
Researchers will have access to BMS’ drug discovery research expertise and Allied’s financial and management experience for programs identified by Allied-Bristol Life Sciences.
Under the deal, both the companies will jointly establish and fund new companies for conducting feasibility and full-phase discovery programs.
After successful identification of a pre-clinical candidate by a program, BMS will have the option to acquire the company from Allied-Bristol Life Sciences under pre-agreed terms.
BMS Discovery senior vice-president and head Carl Decicco said Allied-Bristol Life Sciences brings together cutting-edge ideas, BioPharma experience and drug discovery expertise focused on maximizing 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," Decicco said.