Bristol-Myers Squibb and Allied Minds form biopharma alliance

Allied Bristol Life Sciences will advance biopharmaceutical innovations at leading US universities

Bristol-Myers Squibb has joined forces with Boston, US-based holding company Allied Minds to create Allied-Bristol Life Sciences, which aims to identify and foster research and pre-clinical development of biopharmaceutical innovations from leading university research institutions across the US.

Allied-Bristol Life Sciences will focus on converting discoveries from university research institutions into therapeutic candidates for clinical development, and ultimately drugs that address serious diseases. University researchers will be able to access Bristol-Myers Squibb’s drug discovery research expertise, and Allied Minds’ financial and management experience.

No financial details have been revealed.

The new organisation will form and fund new companies to conduct feasibility and full-phase discovery programmes. Once a programme succeeds in identifying a pre-clinical candidate, Bristol-Myers Squibb will have the option to acquire the company from Allied-Bristol Life Sciences under pre-agreed terms.

'Allied-Bristol Life Sciences brings together cutting-edge ideas, biopharma experience and drug discovery expertise focused on maximising the potential of new scientific approaches to addressing serious disease,' said Carl Decicco, SVP and Head of Discovery at 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.'