Transforming Patient Lives Through Scientific Innovation: A Q&A with Bristol Myers Squibb

Sep 09, 2022

An interview with Elizabeth Mily, Executive Vice President, Strategy and Business Development, Bristol Myers Squibb

During its Pharma Day® on October 6, 2022, Bristol Myers Squibb (BMS) will showcase its collaboration capabilities, platforms, and expertise during an in-person open information session and networking reception at the MassBioHub. In advance of this event, we spoke with Elizabeth Mily, Executive Vice President, Strategy and Business Development at BMS, to learn more about how Bristol Myers Squibb is approaching collaboration with emerging innovators.

Elizabeth Mily
Executive Vice President, Strategy and Business Development
Bristol Myers Squibb

What is Bristol Myers Squibb’s approach to innovation?

At Bristol Myers Squibb, we are inspired by our vision to transform patients’ lives through science. Our colleagues’ curiosity for discovery and commitment to translating it into medical advances fuels our success.  

We source innovation both internally and externally. We have incredibly strong talent and leading R&D capabilities across our core therapeutic areas of oncology, hematology, immunology and cardiovascular disease. Externally, collaborating is in our DNA, and we are fortunate to work with incredible organizations and individuals who are on the cutting edge of scientific innovation.  

We are collaborating at the center of the most vibrant innovation hubs around the world. Our approach to business development is focused on building upon our strong internal R&D by tapping into and accelerating the science happening around us. We are focused on breakthrough science that is strategically aligned to our business and where we believe that we can make a true impact. 

Our business development team brings deep science, clinical development, and business expertise to seamlessly align with our collaboration partners to foster successful relationships. Business development, R&D, and commercial teams work closely together to source innovation that will combine leading science, technology, and research with our development and commercial expertise. There is creativity behind our deal-making to deliver value not just for BMS, but also for our collaboration partners and, most importantly, for patients.  We undertake collaborations starting as early as Series A investments, through to technology partnerships, asset licensure, Co-Cos and of course ultimately, M&A.

Why is Bristol Myers Squibb working with MassBio to support emerging companies?

Massachusetts sits at the center of innovation within the life sciences industry and the amount of opportunity that exists in the region is unmatched. Every day at Bristol Myers Squibb we work to discover, develop, and deliver innovative medicines that help patients prevail over serious diseases and through collaboration we can have an even greater impact by empowering the next generation of innovators. In addition to this year’s Pharma Day, Bristol Myers Squibb also recently partnered with MassBioDrive to provide emerging biotechs from around the world with a market-focused launchpad of training, resources, and networks in their growth trajectory.  

We are so proud of the collaboration with MassBio because it creates an ecosystem of insight sharing and endless opportunity in pursuit of new treatments to help transform patients’ lives through science.  

Which therapeutic or R&D areas is Bristol Myers Squibb open to collaborating on?

We strive to be a true collaboration partner in innovation. We are focused on breakthrough science that has the potential to be first- and best-in-class in our core therapeutic areas – oncology, hematology, immunology, cardiovascular and fibrosis – and earlier emerging areas – such as neuroscience – as well as across translational medicine, enabling technologies, and digital health. While we always remain financially disciplined, we are open to a wide range of collaboration opportunities at all stages. 

How will Bristol Myers Squibb help emerging companies grow their businesses?

With significant resources, leading positions in our therapeutic areas of focus, and one of the most promising R&D teams and pipelines in the industry, we are well-positioned to help emerging companies pursue new business development opportunities with a balance of diligence and urgency. We take a differentiated and creative approach to collaborating, looking beyond each deal to maximize the potential of our collaboration partners’ science and create powerful solutions for patients. 

Want to learn more about Bristol Myers Squibb’s approach to collaboration? Register here for the information session and networking reception on October 6.

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