NEW YORK & CAMBRIDGE, Mass.--(BUSINESS WIRE)--Bristol-Myers Squibb Company (NYSE:BMY) and LabCentral, an innovative, shared laboratory space designed as a launch pad for life-sciences and biotech startups, today announced an agreement in which Bristol-Myers Squibb has become a LabCentral platinum sponsor. As part of the agreement, Bristol-Myers Squibb can nominate up to two innovative life-sciences and biotech startup companies per year to take up residence in LabCentral's Kendall Square facilities. The 2016 nomination process for Bristol-Myers Squibb-sponsored Golden Tickets will launch by the end of the first quarter.
"We are thrilled to welcome Bristol-Myers Squibb to Kendall Square and excited to have it join LabCentral's growing roster of global-company sponsors," said LabCentral co-founder and president, Johannes Fruehauf, M.D., Ph.D. "Clearly, the LabCentral model – providing functional units of space and creating a supportive environment for nascent companies − is meeting a resounding need in the marketplace. Our residents who are working to move early-stage science from the lab bench toward clinical trials stand to gain valuable insights from regular interactions with Bristol-Myers Squibb mentors who are veterans of the process. But we believe it's a symbiotic relationship; this partnership will enable Bristol-Myers Squibb to benefit from proximity and better access to our entrepreneurs as well as LabCentral alumni and others working in some of the region's most exciting life-sciences startups."
"Bristol-Myers Squibb is excited to partner with LabCentral, which serves as a launch pad for scientific innovation, as it naturally aligns with our focus on accelerating the discovery and development of potentially transformational medicines for patients with serious diseases," said Carl Decicco, Ph. D., Head of Discovery at Bristol-Myers Squibb. "This sponsorship also builds on our growing commitment to the Cambridge community, one of the most vibrant ecosystems of world class science, innovation and entrepreneurship."
In June 2015, Bristol-Myers Squibb announced that it will open a new state-of the-art research site in Cambridge, Mass. The new facility will be located at 100 Binney Street in Kendall Square and is expected to open in early 2018.
Regarding Golden Tickets, Dr. Fruehauf said, "Collaboration is also a fundamental tenet underlying the LabCentral Golden Ticket program. A Golden Ticket represents one underwritten bench space per year for one scientist at LabCentral and a priority spot on the waiting list – invaluable for an early-stage company with limited resources. However, equally important is the close bonds that are formed between fledgling start-up and sponsor; the program provides sponsors with important early access to potentially transformational targets and technology. Anecdotally, I also hear that the enthusiasm of our entrepreneurs and the cross-fertilization of science and ideas that takes place at LabCentral energizes sponsors to bring some of that 'start-up spirit' back to their regular workplace." Dr. Fruehauf added, "We look forward to a fruitful, long-term alliance with Bristol-Myers Squibb."
About Bristol-Myers Squibb
Bristol-Myers Squibb is a global biopharmaceutical company whose mission is to discover, develop and deliver innovative medicines that help patients prevail over serious diseases. For more information about Bristol-Myers Squibb, visit us atBMS.com or follow us on LinkedIn, Twitter, and YouTube.
About LabCentral (www.labcentral.org; twitter @labcentral)
A 28,000 square-foot facility in the heart of the Kendall Square, Cambridge, Mass., a biotech innovation hub, LabCentral is a first-of-its-kind shared laboratory space designed as a launchpad for high-potential life-sciences and biotech startups. It offers fully permitted laboratory and office space for early-stage companies comprising approximately 125 scientists and entrepreneurs. LabCentral provides first-class facility and administrative support, skilled laboratory personnel, a domain-relevant expert speaker series—as well as the other critical services and support that startups need to begin laboratory operations on day one. A private, nonprofit institution, LabCentral was funded in part by a $5 million grant from the Massachusetts Life Sciences Center, with support from its real-estate partner, MIT. Founding sponsors include Triumvirate Environmental and Johnson & Johnson Innovation.
Bristol-Myers Squibb Forward-Looking Statement
This press release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995 regarding the research, development and commercialization of pharmaceutical products. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes and results to differ materially from current expectations. No forward-looking statement can be guaranteed. Forward-looking statements in this press release should be evaluated together with the many uncertainties that affect Bristol-Myers Squibb's business, particularly those identified in the cautionary factors discussion in Bristol-Myers Squibb's Annual Report on Form 10-K for the year ended December 31, 2015 in our Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K. Bristol-Myers Squibb undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.