- Bristol-Myers Squibb (BMS) and Allied Minds, a capital investment group, have formed Allied Bristol Life Sciences LLC, a jointly owned company.
- The newly formed joint venture will carefully choose promising preclinical university-based research and help usher it into full-phase clinical development.
- There is widespread agreement in the pharmaceutical industry that much of the most promising medical research is occurring in academic research institutions.
The nature of the Allied-Bristol Life Sciences venture is intrinsically collaborative. The team will work with university researchers to identify the most promising preclinical research, and then each of the three parties -- the university researchers, BMS and the finance/management team -- will work to move the research forward.
In a statement to the press, Carl Decicco, senior vice president and head of discovery at Bristol-Myers Squibb, said, “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.”