PRINCETON, N.J. & BETHLEHEM, Pa.--(BUSINESS WIRE)-- Bristol-Myers Squibb Company (NYSE: BMY) and Saladax Biomedical, Inc., announced today they have expanded their multi-year agreement covering the development and commercialization of diagnostic assays for the early detection of Alzheimer's disease to include Ortho-Clinical Diagnostics, Inc.
Under the terms of the agreement, the three companies will collaborate globally on the development and regulatory approvals for certain diagnostic assays. Commercialization of the assays will be governed by a separate agreement between Saladax and Ortho-Clinical Diagnostics. Terms of the agreements were not disclosed.
“This expanded collaboration demonstrates Bristol-Myers Squibb’s support of the evolution and continued growth of our neuroscience business and our commitment to Alzheimer’s disease,” said Jane Tiller, vice president, Neuroscience and Global Development Lead, Alzheimer's disease, Bristol-Myers Squibb. “By pursuing the development of validated assays that could assist physicians in the diagnosis of Alzheimer’s disease, we can continue to advance the understanding and treatment of this complex and devastating disease.”
"This strategic alliance shows the value Saladax can bring in the companion diagnostics space and in Alzheimer’s disease specifically," said Edward L. Erickson, president and CEO of Saladax. "We are honored to be making a contribution to help patients suffering from this tragic and increasingly common disease, and we are proud to be working with global healthcare leaders such as Bristol-Myers Squibb and Ortho-Clinical Diagnostics.”
Saladax and Bristol-Myers Squibb originally entered into a collaboration in May 2010 for the development of clinical diagnostic tests to be used in conjunction with the development of certain therapeutic compounds in the Bristol-Myers Squibb pipeline. The terms of the agreement called for the companies to collaborate globally on development and regulatory approvals, with Saladax receiving exclusive global rights to commercialize the assays it develops.
About Alzheimer's disease
Alzheimer's disease is a progressive brain disease that impairs memory, interferes with thinking and ultimately destroys the ability of an individual to carry out simple tasks. The disease is a continuum, with damage to the brain starting long before the onset of dementia. Alzheimer's affects 24 million people worldwide and the prevalence is projected to significantly increase over the coming decades due to the aging population. While there are medicines available to help treat the symptoms of Alzheimer's disease, there remains a significant unmet medical need for therapies that slow or prevent the progression of underlying disease.
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 about Bristol-Myers Squibb, visit www.bms.com, or follow us on Twitter at http://twitter.com/bmsnew.
About Saladax Biomedical, Inc.
Saladax Biomedical develops and commercializes novel diagnostic assays to achieve the promise of personalized medicine through dose management and companion diagnostic products for existing and new therapeutics. The Company’s dose management technology enables physicians to optimize drug dosing to meet individual patient needs, leading to improved response and quality of life. The Company’s 15 MyCare™ dose management assays are comprised of proprietary, automated and cost-effective in vitro diagnostic tests, with a principal focus in oncology. The first MyCare assay available is for one of the most common anticancer drugs, 5-fluorouracil (5-FU). This assay is sold by Saladax in Europe as a CE-marked product and will be distributed in Japan by FALCO biosystems. In the United States and Canada, Myriad Genetic Laboratories, Inc. provides testing for 5-FU dose optimization under the trademark OnDose® through a license to Saladax proprietary technology. Saladax also works with pharmaceutical companies to develop companion diagnostics to provide important clinical information to assist in developing and administering new and existing compounds. For more information, visit www.saladax.com, or follow us on Twitter at https://twitter.com/Saladax.
Saladax Biomedical, Inc.
Edward L. Erickson
President and Chief Executive Officer
Tiberend Strategic Advisors, Inc.
Andrew Mielach or Jason Rando
Jennifer Fron Mauer, +1-609-252-6579
John Elicker, +1-609-252-4611
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INDUSTRY KEYWORDS: Health Pharmaceutical