Allied-Bristol Life Sciences, a drug discovery JV founded by BMS and venture capitalists Allied Minds in August, announced Synergy will offer R&D advice and scientific support.
Synergy, founded by ex-Schering-Plough execs, provides drug development services for pharma clients in medicinal chemistry, process chemistry, pharmacology, metabolism, toxicology, and drug safety.
The staff of twenty includes ex-employees of BMS, Merck & Co., AstraZeneca, Pfizer, Johnson & Johnson, and Eli Lilly.
The latest alliance will concentrate on preclinical drug discovery of biopharmaceuticals.
Allied-Bristol was set up to speed along innovations made by US academic research institutions. The enterprise, running since this summer, identifies early-stage and preclinical research at leading universities and allows selected academic teams to access BMS’s drug discovery expertise and Allied Minds’ financial and management experience.
Allied Minds and Bristol-Myers Squibb said they plan to form and fund together new companies to conduct feasibility and full-phase discovery programs.
Once a program succeeds in identifying a preclinical candidate, Bristol-Myers Squibb will have the option to acquire the company from Allied-Bristol Life Sciences under pre-agreed terms.
“The drug development team at Synergy Partners includes leaders within the biopharmaceutical industry in diseases of high interest to Allied-Bristol Life Sciences. We are pleased to have them joining our team as we move forward with this unique opportunity to advance academic innovations to drug candidates,” said Chris Silva, CEO of Allied Minds.
Earlier this year, Bristol-Myers Squibb announced a five-year extension to its strategic alliance with Syngene International, India’s largest CRO.