4th Aug 2014 06:46
LONDON (Alliance News) - Allied Minds PLC Monday said it has agreed to create a joint venture with major US pharmaceutical group Bristol-Myers Squibb Co to identify and foster research and pre-clinical development on biopharmaceutical innovations from US university research institutions.
The joint venture, Allied-Bristol Life Sciences LLC, will focus on converting discoveries from university research institutions into therapeutic candidates for clinical development.
Under the deal, researchers at programmes identified by the joint venture will get access to Bristol-Myers Squibb's drug-discovery research expertise, along with financial and management advice from Allied Minds.
"Our partnership with Bristol-Myers Squibb combines complementary strengths, resources, reach and expertise to create an exciting new paradigm in the drug development space," said Chris Silva, chief executive of Allied Minds.
By Sam Unsted; [email protected]; @SamUAtAlliance
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