Bristol-Myers Squibb to collaborate with Meso Scale Discovery

Bristol-Myers Squibb has entered an agreement with Meso Scale Discovery to collaborate on Alzheimer's disease research.

The two companies will work together to develop diagnostic assays that will measure cerebrospinal fluid biomarkers, based on Meso Scale Discovery's MULTI-ARRAY technology platform.

According to a statement, the assays will be commercialised by Meso and are scheduled for release in the second quarter of 2012. Financial terms of the agreement have not been made public.

"These assays could provide the Alzheimer's disease research community with an important tool to help advance understanding of this complex and devastating disease," said Jane Tiller, vice-president of Global Clinical Research at Bristol-Myers Squibb.

Jacob Wohlstadter, president and chief executive of Meso Scale Discovery, added that the partnership with the global biopharmaceutical firm reflects his company's "mission of developing novel biomarkers tests for use in research and diagnostics".

The announcement follows Bristol-Myers Squibb's acquisition of US drugmaker Inhibitex, which was completed in February.