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Home Industry News Bristol-Myers Squibb announces discovery alliance

Bristol-Myers Squibb announces discovery alliance

14th November 2008

Bristol-Myers Squibb has announced a discovery alliance with Athersys.

The collaboration has said the initiation of a phase II trial for a small molecule discovered used a target provided by Athersys.

As part of the partnership – since 2001 – Athersys has applied its patented Rage (Random Activation of Gene Expression) technology, in an attempt to provide Bristol-Myers Squibb with validated drug targets and high-thoroughput screening and lead optimisation.

Rage is a gene expression system, which provides the ability to produce protein from virtually any gene in the human genome, without requiring the cloning of individual genes or use of cDNA libraries.

Chief scientific officer at Athersys, Dr John Harrington, said: “We are pleased that our partnership with Bristol-Myers Squibb has successfully resulted in the advancement of a program into Phase II clinical development.”

“We believe this accomplishment reflects the ability of one of our core technology platforms,” he continued.

Dr Harrington added that the project aims to advance drug development programmes.

Based in New York, US, Bristol-Myers Squibb has reported sales of $19.3 billion (13 billion pounds).

Listed on the New York Stock Exchange, the company has 41,000 employees.

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