Bristol-Myers Squibb Expands R&D Presence Within Hubs of World Class Science and Innovation
June 25 2015 - 9:30AM
Business Wire
Bristol-Myers Squibb Company (NYSE:BMY) today announced
important next steps in the evolution of the company’s R&D
organization, including plans to expand its presence within hubs of
scientific excellence and innovation with the opening of a new
state-of-the-art research site in Cambridge, Mass. in addition to
the ongoing expansion of the company’s R&D Discovery site in
the San Francisco Bay Area. The new facility in Cambridge, which
will be located at 100 Binney Street in Kendall Square, is expected
to open in 2018. The ongoing site expansion in the San Francisco
Bay Area adds 61,000 square feet of laboratory and office space at
the Woodside Technology Park life science campus and is expected to
be completed in 2016. Consistent with evolution of the R&D
organization’s strategic focus, which was previously announced in
2013, the company also announced today its plans to discontinue
discovery research efforts in virology. This decision does not
impact the company’s promising ongoing clinical development program
in virology, nor does it impact the company’s marketed products in
virology.
“In addition to investments in central New Jersey, our new
location in Cambridge and our expanding presence in the San
Francisco Bay area positions the company and our scientists in the
heart of vibrant ecosystems of world class science, innovation and
business opportunities, which offer ideal environments for
fostering external collaboration,” said Francis Cuss, MB
BChir, FRCP, executive vice president and chief scientific officer,
Bristol-Myers Squibb. “Ultimately, our goal is to continue to
accelerate the translation of scientific knowledge and insights
into the next wave of potentially transformational medicines for
patients with serious diseases.”
Cambridge, Mass. and San Francisco, Calif. Sites
In Cambridge, Bristol-Myers Squibb scientists will focus on the
company’s ongoing discovery efforts in genetically defined
diseases, molecular discovery technologies and discovery platform
chemistry in state-of-the-art lab space. In addition to relocating
up to 200 employees from its Wallingford, Conn. and Waltham, Mass.
sites, and a limited number from its central New Jersey locations,
the company expects to recruit scientists from the Cambridge area.
As part of this transition, the Waltham site is expected to close
in early 2018. The existing site in Wallingford will also close in
early 2018 with up to 500 employees relocating to a new location in
Connecticut. Bristol-Myers Squibb and Alexandria Real Estate
Equities, Inc. have a signed letter of intent for the Cambridge
location and expect to sign a lease in the near future.
The Woodside Technology Park life science campus in the San
Francisco Bay Area serves as Bristol-Myers Squibb’s Discovery hub
for researching breakthrough cancer immunotherapies. With
additional square footage leased, Bristol-Myers Squibb will fully
occupy two of the three buildings at the campus totaling 194,100
square feet and will provide additional capacity to conduct
biologics drug discovery research. In addition to relocating
approximately 40 Bristol-Myers Squibb scientists from its Seattle,
Wash. site, the company will also recruit scientists from the Bay
area. The site expansion is expected to be completed in 2016.
R&D Strategic Focus
Consistent with the evolution of the company’s R&D strategic
focus, which was announced in 2013, the Discovery organization will
discontinue its research efforts in virology. This includes early
research in hepatitis B (HBV) and HIV. Bristol-Myers Squibb has
made significant contributions to the science in HIV, HBV as well
as hepatitis C and has contributed to transforming the way patients
with these diseases are treated. Approximately 100 Discovery
positions will be eliminated as a result of these changes.
The decision to discontinue Discovery research in virology does
not impact the company’s promising ongoing development programs in
virology, which includes the HIV attachment inhibitor BMS-663068,
the HIV maturation inhibitor BMS-955176, beclabuvir and the
anti-PD-L1 compound BMS-936559, or the company’s marketed virology
medicines, including Baraclude (entecavir), Reyataz
(atazanavir)/Evotaz (atazanavir and cobicistat) , Sustiva
(efavirenz), Atripla (efavirenz/emtricitabine/tenofovir disoproxil
fumarate), Daklinza (daclatasvir) and Sunvepra (asunaprevir).
Bristol-Myers Squibb also remains committed to the registration and
commercialization of Daklinza around the world. Bristol-Myers
Squibb’s Discovery organization will continue to focus on research
in immuno-oncology as well as heart failure, fibrosis, genetically
defined diseases and immunoscience.
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 at
http://twitter.com/bmsnews.
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 discovery, development and commercialization of
cancer immunotherapies. 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. 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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version on businesswire.com: http://www.businesswire.com/news/home/20150625005676/en/
Bristol-Myers Squibb CompanyMedia:Sarah Koenig,
609-252-4145sarah.koenig@bms.comorInvestors:Ranya Dajani,
609-252-5330ranya.dajani@bms.com
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