Allied Minds and BMS Form New Enterprise to Advance Discoveries of Biopharmaceutical Innovations

Allied Minds and Bristol-Myers Squibb Company (BMS) have 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 US.

Allied-Bristol Life Sciences 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 programmes identified by the new enterprise, university researchers will be able to access BMS’s drug discovery research expertise, and Allied Minds’ financial and management experience.

“The innovations developed in US research institutions represent an important resource for scientific advancement, as well as economic development and financial returns,” said Chris Silva, CEO of Allied Minds. “Our partnership with BMS 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, BMS. “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, 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 BMS together will form and fund new companies to conduct feasibility and full-phase discovery programs. Once a programme succeeds in identifying a pre-clinical candidate, BMS will have the option to acquire the company from Allied-Bristol Life Sciences under pre-agreed terms.