|[January 16, 2014]
AstraZeneca and Bristol-Myers Squibb Diabetes Alliance Provides $5 Million Grant for American Diabetes Association's Pathway to Stop Diabetes Research Initiative
WILMINGTON, Del. & PRINCETON, N.J. --(Business Wire)--
(NYSE:AZN) and Bristol-Myers
Squibb Company (NYSE:BMY) today announced that the companies' U.S.
Diabetes Alliance is providing a three-year grant to the American
Diabetes Association's Pathway to Stop Diabetes program. The
innovative research initiative provides resources and support for a new
generation of diabetes researchers and is designed to generate exciting
discoveries through excellence, innovation, collaboration and radical
Diabetes is a progressive disease that requires a range of treatment
options and guidelines for individualized care. While diabetes affects
25.8 million Americans, the National Institutes of Health (NIH) reports
significantly lower funding for diabetes research than other diseases,
such as cancer and HIV/AIDS. The need for a broader approach to diabetes
management has been recognized by policymakers, professional societies
and advocacy organizations for diabetes management.
2013 Pathway Awards will provide $1.625 million in support for five to
seven years for the selected investigators and will fund research
relevant to any diabetes type, diabetes-related disease state or
diabetes complication. Nominations included a broad range of
disciplines, including medicine, biology, chemistry, engineering,
physics and mathematics.
"The AstraZeneca/Bristol-Myrs Squibb Diabetes Alliance recognizes the
need for a broader approach to diabetes management and is proud to work
with the American Diabetes Association on Pathway to Stop Diabetes,"
said Rich Daly, president, U.S. Diabetes Alliance. "We look forward to
following the progress of the 2013 Pathway Awards researchers as they
work to discover innovative treatment options and solutions to address a
wide range of needs for patients living with the many burdens of
About Type 2 Diabetes
Diabetes is estimated to affect 25.8 million people in the U.S. and more
than 382 million people worldwide. The prevalence of diabetes is
projected to reach more than 592 million people worldwide by 2035. Type
2 diabetes accounts for approximately 90-95 percent of all cases of
diagnosed diabetes. Type 2 diabetes is a chronic disease characterized
by pathophysiologic defects leading to elevated glucose levels. Over
time, this sustained hyperglycemia contributes to further progression of
the disease. Significant unmet needs still exist, as many patients
remain inadequately controlled on their current glucose-lowering regimen.
About the AstraZeneca/Bristol-Myers Squibb Diabetes Alliance
Dedicated to addressing the global burden of diabetes by advancing
individualized patient care, AstraZeneca and Bristol-Myers Squibb are
working in collaboration to develop and commercialize a versatile
portfolio of innovative treatment options for diabetes and related
metabolic disorders that aim to provide treatment effects beyond glucose
On December 19, 2013 AstraZeneca and Bristol-Myers Squibb announced an
agreement under which AstraZeneca will acquire the entirety of
Bristol-Myers Squibb's interests in the companies' diabetes alliance to
consolidate worldwide ownership of the diabetes business within
AstraZeneca. The closing of the transactions contemplated by the
agreement is subject to customary terms and conditions, and is expected
to occur during the first quarter of 2014.
AstraZeneca is a global, innovation-driven biopharmaceutical business
that focuses on the discovery, development and commercialization of
prescription medicines, primarily for the treatment of cardiovascular,
metabolic, respiratory, inflammation, autoimmune, oncology, infection
and neuroscience diseases. AstraZeneca operates in over 100 countries
and its innovative medicines are used by millions of patients worldwide.
For more information please visit: www.astrazeneca.com.
About Bristol-Myers Squibb
Bristol-Myers Squibb is a global biopharmaceutical company whose mission
is to discover, develop and deliver innovative medicines that help
patients prevail over serious diseases. For more information about
Bristol-Myers Squibb, visit www.bms.com
or follow us on Twitter (News - Alert) at http://twitter.com/bmsnews.
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