The stock of Bristol-Myers Squibb Co (NYSE:BMY) closed at $58.84 losing 2.20% in yesterday’s trading session. This Company and the Harvard Fibrosis Network today made a joint statement revealing their plan to engage in a research collaboration that will see them discover as well as come up with new working therapies for fibrotic diseases.
Those include fibrosis of the heart and liver. Over the years, the Harvard Fibrosis Network has remained dedicated to bringing together researchers across the affiliated hospitals and schools of the great institution.
It is worth noting that the Fibrotic diseases end up affecting a lot of the body organs. The scarring response interferes with the functionality and eventually its leads to organ failure. At the moment, treatments for fibrotic diseases are rather limited and it is crucial to outline that there a monumental unmet need for new options.
Carl Decicco, who happens to be the head of Discovery for Bristol-Myers Squibb while walking out of a business conference that was held recently, addressed a number of news reporters who wanted to him to give his perspective regarding the latest developments. He was quick to state that over the years Bristol-Myers Squibb had been striving to discover as well as develop transformational therapies which would most probably move along way helping reverse or arrest the progression of fibrosis as well as help in the restoration of the organ function.
He went further to outline that as a company they were quite pleased for having gotten the opportunity to work with the Harvard Fibrosis Network. According to him, it was this particular collaboration that would help them towards the advancement of the fibrosis research with the objective of expediting the development of new therapies. Everything is centered on assisting the large number of patients who have been struggling with the condition for many years without getting the appropriate form of medical assistance.
The lead researcher of the Harvard Fibrosis Network Joseph V. Bonventre recently said that he was delighted about the partnership struck with Bristol-Myers Squibb. To him, it was what it took to help advance efforts targeted at the discovery as well as the development of fibrosis therapies.