TIDMALM
RNS Number : 9014U
Allied Minds PLC
30 October 2017
Allied-Bristol Life Sciences forms ABLS IV
ABLS IV to carry out feasibility studies on a novel class of
inhibitors of immunoproteasome for treatment of autoimmune
diseases, including lupus and rheumatoid arthritis, licensed from
Cornell University
Boston (30 October 2017) - Allied-Bristol Life Sciences, LLC
(ABLS), a biopharmaceutical enterprise jointly owned by Allied
Minds (LSE: ALM) and Bristol-Myers Squibb Company (NYSE: BMY),
today announced that it has formed a new subsidiary, ABLS IV, to
enter into an alliance with Weill Cornell Medicine and an exclusive
licensing agreement with Cornell University in relation to a novel
class of inhibitors of immunoproteasomes developed by Dr. Gang Lin,
an associate professor of research in microbiology and immunology
at Weill Cornell Medicine, and Dr. Carl Nathan, dean of Weill
Cornell Graduate School of Medical Sciences and chairman of the
Department of Microbiology and Immunology at Weill Cornell
Medicine. Drs. Lin and Nathan will serve as consultants to ABLS IV
as a result of the agreement.
ABLS IV will fund and conduct initial feasibility studies with
respect to this technology.
The novel and highly selective class of inhibitors under
development is targeted at a specific sub-unit of the
immunoproteasome playing a critical role in inflammation and
autoimmune diseases, including lupus and rheumatoid arthritis, with
the potential to develop safer treatments with better efficacy. The
market for unmet medical needs in autoimmune and inflammatory
diseases is estimated to be in the tens of billions of dollars.
Satish Jindal, CEO of ABLS, commented "We are excited to enter
feasibility studies for this novel class of selective
immunoproteasome inhibitors, which has the potential to markedly
improve treatments of a range of widely prevalent autoimmune and
inflammatory diseases."
For more information, please contact:
Allied Minds plc
Neil Pizey, Head of Corporate
Development +44 7771 872 922
FTI Consulting
Ben Atwell / Brett Pollard +44 20 3727 1000
ENDS
Note on immunoproteasome
The proteasome is a large, multicatalytic collection of enzymes
involved in intracellular protein degradation and protein
homeostasis. In contrast to constitutive proteasomes,
immunoproteasomes are expressed in the immune cells, such as T
cells and B cells, and become highly expressed at sites of
inflammation in patients with autoimmune disorders. Selective
inhibition of the immunoproteasome regulates immune responses in
multiple ways, including the blocking of the production of several
inflammatory cytokines that play a role in autoimmune diseases.
Note on the alliance and licensing partner
Weill Cornell Medicine is committed to excellence in patient
care, scientific discovery and the education of future physicians
in New York City and around the world.
The institution's Office of BioPharma Alliances and Research
Collaborations (BioPharma Alliances) helps to accelerate the
development and discovery of new medicines by bridging the gap
between early discovery and Phase I research and commercial
development. Leveraging Weill Cornell Medicine's capabilities as a
cutting-edge research enterprise, BioPharma Alliances develops
innovative collaborations with biopharma and venture partners -
establishing connections with leading researchers and resources
that can drive new discoveries.
The Center for Technology Licensing (CTL) is Cornell
University's technology transfer office, managing technology on
behalf of Cornell University including Weill Cornell Medicine.
CTL's mission is to bring the University's scientific discoveries,
technological innovations, and medical advances to the marketplace
for societal benefit and to foster economic development within New
York State and across the nation. For more information, visit
www.ctl.cornell.edu
About Allied Minds
Allied Minds is an IP commercialisation company focused on the
life science and technology sectors. With extensive access to
hundreds of university and federal labs across the U.S., Allied
Minds forms, funds, and operates a portfolio of companies with the
objective of securing successful liquidity events in order to
generate long-term value for its investors and stakeholders. Based
in Boston, Allied Minds supports its businesses with capital,
central management, and shared services. For more information,
please visit www.alliedminds.com
About ABLS
Allied-Bristol Life Sciences (ABLS) is a jointly owned
enterprise between Allied Minds and Bristol-Myers Squibb Co. Based
upon compelling biological discoveries and insights from scientists
at leading U.S. research institutions, ABLS identifies, sources and
de-risks promising, early-stage therapeutic opportunities, from
discovery through pre-clinical development, in key therapeutic
areas, including fibrosis, cardiovascular diseases, immunology,
oncology and immuno-oncology. For more information, visit
www.ablifescience.com
About Bristol-Myers Squibb
Bristol-Myers Squibb is a global pharmaceutical 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 www.bms.com, or
follow us on Twitter at http://twitter.com/bmsnews
Allied Minds forward-looking statement
This press release contains statements that are or may be
forward-looking statements, including statements that relate to
Allied Minds' future prospects, developments and strategies. The
forward-looking statements are based on current expectations and
are subject to known and unknown risks and uncertainties that could
cause actual results, performance and achievements to differ
materially from current expectations, including, but not limited
to, those risks and uncertainties described in the risk factors
included in Allied Minds' regulatory filings. These forward-looking
statements are based on assumptions regarding the present and
future business strategies of Allied Minds and the environment in
which it will operate in the future. Each forward-looking statement
speaks only as at the date of this press release. Except as
required by law, regulatory requirement, the Listing Rules and the
Disclosure Guidance and Transparency Rules, neither Allied Minds
nor any other party intends to update or revise these
forward-looking statements, whether as a result of new information,
future events or otherwise.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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