Scripps Research Institute Announces Five-Year Research Collaboration with Bristol-Myers Squibb

For Scripps Research, the Focused Deal Provides a Model for Future

LA JOLLA, Calif., June 15, 2012 /PRNewswire-USNewswire/ -- The Scripps Research Institute today announced it has entered into a five-year collaboration with Bristol-Myers Squibb Company (NYSE:BMY) focused on applying novel chemistry to drug discovery and synthesis.

The collaboration will revolve around support for projects of mutual interest to Bristol-Myers Squibb and a number of Scripps Research chemistry laboratories. Scripps Research investigators and senior scientists from Bristol-Myers Squibb collaborated to develop research plans incorporated into the new agreement.

"This agreement is an exciting development for The Scripps Research Institute," said Scripps President and CEO Michael A. Marletta. "It serves as a great example of how we will engage corporate partners in both understanding and treating disease. I look with anticipation to the outcome of this multi-lab collaboration."

In broad terms, the research will utilize Scripps Research investigators' expertise in applying chemistry methodologies to prepare novel synthetic intermediates and analogs for biological evaluation against Bristol-Myers Squibb targets.

"This arrangement is exemplary of our forward-looking corporate partnership strategy, as the first of what we hope will be many such agreements existing in parallel," said Scott Forrest, vice president for business development at Scripps Research.

For more information about licensing opportunities with Scripps Research, see the Office of Technology Transfer website at http://www.scripps.edu/research/technology/index.html

About The Scripps Research Institute

The Scripps Research Institute is one of the world's largest independent, not-for-profit organizations focusing on research in the biomedical sciences. Over the past decades, Scripps Research has developed a lengthy track record of major contributions to science and health, including laying the foundation for new treatments for cancer, rheumatoid arthritis, hemophilia, and other diseases. The institute employs about 3,000 people on its campuses in La Jolla, CA, and Jupiter, FL, where its renowned scientists—including three Nobel laureates—work toward their next discoveries. The institute's graduate program, which awards Ph.D. degrees in biology and chemistry, ranks among the top ten of its kind in the nation. For more information, see www.scripps.edu

SOURCE The Scripps Research Institute