NEW YORK & QUEENSLAND, Australia--(BUSINESS WIRE)--Bristol-Myers Squibb Company (NYSE:BMY) and QIMR Berghofer Medical Research Institute have signed a research collaboration and license agreement to discover novel therapeutic antibodies against an undisclosed immuno-oncology (I-O) target.
"Bristol-Myers Squibb continues to invest in strategic partnerships that accelerate the discovery and development of novel immunotherapies through innovative science and technologies," said Carl Decicco, Ph.D., Head of Discovery, R&D, Bristol-Myers Squibb. "We are excited to work with QIMR Berghofer Medical Research Institute, a partner that brings significant experience and expertise in cancer research."
"QIMR Berghofer is committed to translational research, so it is gratifying when high quality research at the Institute results in the strategic collaboration announced today," said Professor Frank Gannon, QIMR Berghofer Director and CEO. "Bristol-Myers Squibb is the ideal partner to progress these assets to the clinic, with their world-leading expertise in immuno-oncology and a proven track record developing multiple cancer therapies on the market. We look forward to a fruitful, long-term collaboration, delivering new therapies for cancer patients."
QIMR Berghofer Medical Research Institute is a world leading translational research institute focused on cancer, infectious diseases, mental health and a range of complex disorders. Bristol-Myers Squibb will be solely responsible for clinical development and commercialization of antibodies discovered through the collaboration. Financial terms were not disclosed.
Immuno-Oncology at Bristol-Myers Squibb
Surgery, radiation, cytotoxic or targeted therapies have represented the mainstay of cancer treatment over the last several decades, but long-term survival and a positive quality of life have remained elusive for many patients with advanced disease.
To address this unmet medical need, Bristol-Myers Squibb is leading research in an innovative field of cancer research and treatment known as Immuno-Oncology, which involves agents whose primary mechanism is to work directly with the body's immune system to fight cancer. The company is exploring a variety of compounds and immunotherapeutic approaches for patients with different types of cancer, including researching the potential of combining Immuno-Oncology agents that target different pathways in the treatment of cancer.
Bristol-Myers Squibb is committed to advancing the science of Immuno-Oncology, with the goal of changing survival expectations and the way patients live with cancer.
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, please visit www.bms.com or follow us on Twitter athttp://twitter.com/bmsnews.
About QIMR Berghofer Medical Research Institute
The QIMR Berghofer Medical Research Institute is a world leading translational research institute focused on cancer, infectious diseases, mental health and a range of complex disorders. Working in close collaboration with clinicians and other research institutes, our aim is to improve health by developing new diagnostics, better treatments and prevention strategies. For more information about QIMR Berghofer, visitwww.qimrberghofer.edu.au.
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. Among other risks, there can be no guarantee that the collaboration agreement mentioned in this release will lead to identifying a pre-clinical candidate. Nor is there any guarantee that if one is identified, it will be successfully developed or approved for any of the indications described in this release. 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, 2014 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.
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