LSP, BMS team on European life sciences
Specialist healthcare investment firm LSP, also known as Life Sciences Partners, has formed a strategic collaboration with Bristol-Myers Squibb (BMS) in which the companies will work together to identify European breakthrough technologies and products in immuno-oncology and other areas of unmet medical need.
The collaboration is underpinned by a significant investment by BMS in LSP 5, the latest LSP fund. It is the first investment by BMS in a European healthcare fund. A representative of BMS will join the LSP 5 advisory board.
Immuno-oncology has been considered a dynamic area in biotechnology for a few years, and BMS has been acknowledged as one of the leaders in the field. The company also is pursuing potential treatment options in other areas of significant unmet need, including cardiovascular diseases such as heart failure and thrombosis, certain genetically defined diseases, fibrosis and immuno-science.
Dr. Joachim Rothe, general partner at LSP, said, “LSP is committed to seeking, nurturing and growing healthcare investment opportunities which have the potential to have a positive impact on society. We are very proud to be chosen by Bristol-Myers Squibb as a partner for investing in European innovation, which is validation of LSP’s influential role as a longstanding specialist European life science investor. We are excited to be working with Bristol-Myers Squibb and welcome Dr. Donnie McGrath, vice president of business development at Bristol-Myers Squibb, to the LSP 5 advisory board. We have no doubt this will be a highly productive and complementary collaboration to promote innovation in European life sciences.”
Paul Biondi, senior vice president of business development at BMS, noted, “Bristol-Myers Squibb is committed to working closely with the venture community to identify and invest in innovative science that has the potential to bring forward transformational medicines to patients with unmet need.”