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.
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