Bristol-Myers Squibb has allied with biotech accelerator BioMotiv. The deal sets Bristol-Myers up to found and fund biotechs with BioMotiv before going on to acquire them outright once a preclinical candidate is identified.
BioMotiv, a biotech accelerator associated with the $380 million Harrington Project for Discovery & Development, builds companies around academic science and helps these startups get into human testing and on to deals with larger partners. In the future, Bristol-Myers may step in partway through that process and buy the biotechs.
Image: The new Bristol-Myers Squibb agreement with BioMotiv comes three years after Bristol-Myers teamed up with a BioMotiv portfolio company. (Bristol-Myers Squibb)
