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.
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