Bristol-Myers Squibb (BMS) and Allied Minds have formed Allied-Bristol Life Sciences LLC, a new enterprise to identify and foster research and preclinical 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 programs 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.
Allied Minds and BMS will form and fund new companies to conduct feasibility and full-phase discovery programs. Once a program succeeds in identifying a pre-clinical candidate, BMS will have the option to acquire the company from Allied-Bristol Life Sciences LLC under preagreed terms.