AstraZeneca (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 thinking.
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-Myers 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 diabetes."
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 control.
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.
About AstraZeneca
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.
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.