Healthcare Industry News: HSMN NewsFeed
News Release - December 1, 2017
Bayer and the Broad Institute of MIT and Harvard Expand Partnership to Advance Drug Discovery Research for Novel Cancer TreatmentsCAMBRIDGE, Mass. and WHIPPANY, N.J., Dec. 1, 2017 -- (Healthcare Sales & Marketing Network) -- Bayer and the Broad Institute of MIT and Harvard announced today that they have extended their multi-disciplinary research partnership by an additional five years, to develop and advance novel cancer treatments. The expanded agreement will focus on a defined goal to jointly identify three new additional investigational drugs (INDs) for novel oncology targets.
"With Bayer's commitment to oncology, we are excited to build on our relationship with the Broad Institute to translate discoveries into real benefit for patients. We credit the Broad Institute as an entrepreneurial, forward-thinking collaboration partner that has helped us build a base of trust and close communication between our scientists," said Chandra Ramanathan, Ph.D., Vice President and Head of the Bayer East Coast Innovation Center. "Having built a robust portfolio in the first few years, including the identification of multiple drug candidates, we are thrilled to continue our work with the Broad scientists to bring novel cancer treatments to the clinic."
Established in 2013, the partnership brings together the Broad Institute's expertise in cancer research and chemical biology with Bayer's in-depth experience in small, chemically manufactured molecules and biologics drug discovery. In 2015, the collaboration was expanded to examine genomics and drug discovery in cardiovascular disease. With this recent extension, the Broad Institute will also bring their expertise in biomarker development and patient selection and clinical trial design.
Now extended to 2023, the Bayer-Broad collaboration is uniquely structured to encourage close coordination and ongoing, face-to-face interactions between researchers at both organizations. For example, an alliance manager from Bayer is located at the Broad Institute to help coordinate projects and ensure researchers have rapid access to information. The research is guided by joint project and governance teams. In addition to identifying investigational drugs for novel oncology targets and generating the associated intellectual property, the institutions will continue to openly share the biological knowledge generated with the scientific community, including through publicly-available datasets and publications in academic journals.
"The successful partnership between Broad and Bayer has already resulted in exciting advances in oncology drug discovery, with several programs advancing toward the clinic," said Todd Golub, Chief Scientific Officer of the Broad Institute. "In order to successfully create new therapeutics that reach cancer patients, we must draw simultaneously on the skills of academia and industry. By collaborating with Bayer, we have created a research environment that combines the Broad's expertise in cancer biology and innovative drug discovery methods with the drug development expertise and capabilities that Bayer's team can bring. Ultimately it means a greater chance of making critical discoveries, and rapidly delivering on these findings, so we can reach patients."
About Oncology at Bayer
Bayer is committed to delivering science for a better life by advancing a portfolio of innovative treatments. The oncology franchise at Bayer includes four marketed products and several other compounds in various stages of clinical development. Together, these products reflect the company's approach to research, which prioritizes targets and pathways with the potential to impact the way that cancer is treated.
Bayer: Science For A Better Life
Bayer is a global enterprise with core competencies in the Life Science fields of health care and agriculture. Its products and services are designed to benefit people and improve their quality of life. At the same time, the Group aims to create value through innovation, growth and high earning power. Bayer is committed to the principles of sustainable development and to its social and ethical responsibilities as a corporate citizen. In fiscal 2016, the Group employed around 115,200 people and had sales of EUR 46.8 billion. Capital expenditures amounted to EUR 2.6 billion, R&D expenses to EUR 4.7 billion. These figures include those for the high-tech polymers business, which was floated on the stock market as an independent company named Covestro on October 6, 2015. For more information, go to www.bayer.us.
About the Broad Institute of MIT and Harvard
Broad Institute of MIT and Harvard was launched in 2004 to empower this generation of creative scientists to transform medicine. The Broad Institute seeks to describe all the molecular components of life and their connections; discover the molecular basis of major human diseases; develop effective new approaches to diagnostics and therapeutics; and disseminate discoveries, tools, methods, and data openly to the entire scientific community.
Founded by MIT, Harvard, Harvard-affiliated hospitals, and the visionary Los Angeles philanthropists Eli and Edythe L. Broad, the Broad Institute includes faculty, professional staff, and students from throughout the MIT and Harvard biomedical research communities and beyond, with collaborations spanning over a hundred private and public institutions in more than 40 countries worldwide. For further information about the Broad Institute, go to http://www.broadinstitute.org.
This news release may contain forward-looking statements based on current assumptions and forecasts made by Bayer management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer's public reports which are available on the Bayer website at www.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.
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