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Business

Allied Minds funds drug development

by Ann M. Thayer
May 2, 2016 | APPEARED IN VOLUME 94, ISSUE 18

The science commercialization firm Allied Minds has created a subsidiary, ABLS Capital, which has secured $80 million in funding from venture capital investors. Along with $20 million from Bristol-Myers Squibb, ABLS Capital will support up to 10 lead optimization programs for drug candidates that have completed feasibility studies. ABLS Capital is an outgrowth of a 2014 agreement between Allied Minds and BMS that created Allied-Bristol Life Sciences to identify drug candidates from U.S. universities and research institutions.

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