Bristol-Myers Squibb plans to expand its presence within hubs of scientific excellence and innovation with the opening of a new research site in Cambridge, Massachusetts in addition to the ongoing expansion of the company's R&D Discovery site in the San Francisco Bay Area. The new facility in Cambridge, which will be located in Kendall Square, is expected to open in 2018. The ongoing site expansion in the San Francisco Bay Area adds 61,000 square feet of laboratory and office space at the Woodside Technology Park life science campus and is expected to be completed in 2016. The company also announced its plans to discontinue discovery research efforts in virology. This decision does not impact the company's ongoing clinical development program in virology, nor does it impact the company's marketed products in virology.

In Cambridge, Bristol-Myers Squibb scientists will focus on the company's ongoing discovery efforts in genetically defined diseases, molecular discovery technologies,and discovery platform chemistry in lab space. In addition to relocating up to 200 employees from its Wallingford, Connecticut and Waltham, Massachusetts sites, and a limited number from its central New Jersey locations, the company expects to recruit scientists from the Cambridge area. As part of this transition, the Waltham site is expected to close in early 2018. The existing site in Wallingford will also close in early 2018 with up to 500 employees relocating to a new location in Connecticut. Bristol-Myers Squibb and Alexandria Real Estate Equities, Inc. have a signed letter of intent for the Cambridge location and expect to sign a lease in the near future.

The Woodside Technology Park life science campus in the San Francisco Bay Area serves as Bristol-Myers Squibb's Discovery hub for researching breakthrough cancer immunotherapies. With additional square footage leased, Bristol-Myers Squibb will fully occupy two of the three buildings at the campus totaling 194,100 square feet and will provide additional capacity to conduct biologics drug discovery research. In addition to relocating approximately 40 Bristol-Myers Squibb scientists from its Seattle, Washington site, the company will also recruit scientists from the Bay area. The site expansion is expected to be completed in 2016.

Consistent with the evolution of the company's R&D strategic focus, which was announced in 2013, the Discovery organization will discontinue its research efforts in virology. This includes early research in hepatitis B (HBV) and HIV. Approximately 100 Discovery positions will be eliminated as a result of these changes. The decision to discontinue Discovery research in virology does not impact the company's promising ongoing development programs in virology, which includes the HIV attachment inhibitor BMS-663068, the HIV maturation inhibitor BMS-955176, beclabuvir and the anti-PD-L1 compound BMS-936559, or the company's marketed virology medicines, including Baraclude (entecavir), Reyataz (atazanavir)/Evotaz (atazanavir and cobicistat), Sustiva (efavirenz), Atripla (efavirenz/emtricitabine/tenofovir disoproxil fumarate), Daklinza (daclatasvir) and Sunvepra (asunaprevir). Bristol-Myers Squibb also remains committed to the registration and commercialization of Daklinza globally. Bristol-Myers Squibb's Discovery organization will continue to focus on research in immuno-oncology as well as heart failure, fibrosis, genetically defined diseases and immunoscience.

Source: Bristol-Myers Squibb