Bristol-Myers Squibb And Allied Minds Launch New Jointly-Owned Firm

Bristol-Myers Squibb and Boston-based research commercialization company Allied Minds announced that the partners have formed a new jointly-owned firm named Allied-Bristol Life Sciences LLC.

The new venture will focus on facilitating research and early development of biopharmaceutical innovations with partner university research establishments in the U.S. As part of the agreement, researchers from partner universities will be given access to BMS’ drug discovery research resources as well as Allied Minds’ funding and management. These resources will help transform early-stage academic innovations into therapeutic candidates ready for clinical study.

Chris Silva, CEO of Allied Minds, said, “The innovations developed in U.S. research institutions represent an important resource for scientific advancement, as well as economic development and financial returns. Our partnership with Bristol-Myers Squibb combines complementary strengths… to create an exciting new paradigm in the drug development space.” Allied Minds serves as a holding firm for science and tech start-ups, forming new companies and supporting them through funding and management. Indeed, last year Allied Minds reported it has raised $100 million for its next batch of start-ups based on university and research labs discoveries.

The partners will also form and support new companies to pursue feasibility and full phase discovery programs. BMS will have the option of acquiring a company from Allied-Bristol Life Sciences LLC under pre-agreed terms once it succeeds in identifying a pre-clinical candidate.

Carl Decicco, SVP and Head of Discovery at Bristol-Myers Squibb, said, “Allied-Bristol Life Sciences LLC brings together cutting-edge ideas… focused on maximizing the potential of new scientific approaches to addressing serious disease. 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.”

In a similar move in 2012, BMS established a global collaboration network with 10 partner universities to study opportunities in immuno-oncology. The 2012 collaboration included research institutes and universities in the U.S. and EU.