Allied Minds melds with Bristol-Myers Squibb

Allied Minds, a Boston-based specialist in commercialising university research, and Bristol-Myers Squibb, a New York City-based pharmaceutical company, have formed a new jointly owned enterprise. The goal of Allied-Bristol Life Sciences will be to seek out and support research and pre-clinical development of biopharmaceutical products and technologies at US universities.

Allied-Bristol Life Sciences’s aim will be to commercialise university research by identifying therapeutic candidates and advancing them into clinical development. The new partners hope that this will allow them to create therapies and drugs that could eventually cure serious diseases. University researchers will gain full access to Bristol-Myers Squibb’s drug discovery research expertise, and draw on Allied Minds for financial and management experience.

Under the terms of the deal, Bristol-Myers Squibb has the option to acquire the company from Allied-Bristol Life Sciences if a pre-clinical trial proves successful. The terms of such an acquisition are pre-determined as part of the formation of Allied-Bristol Life Sciences.

Allied Minds currently has partnerships with 33 US universities and 26 US federal government institutions. The Pentagon and Homeland Security both grant Allied Minds a first option on commercialising new technologies being developed. The company floated on the London Stock Exchange’s Alternative Investment Market (Aim) on June 25, 2014, and has a current market cap of more than £398m ($670m).

Carl Decicco, senior vice-president and Head of Discovery at Bristol-Myers Squibb, said: “Allied-Bristol Life Sciences brings together cutting-edge ideas, biopharmaceutical experience and drug discovery expertise focused on maximising 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.”