The Scripps Research Institute Enters Major Five-year $100 Million Collaboration With Pfizer
December 5, 2006 – 1:51 pm | posted in Biology / BiochemistryUnder the terms of the agreement, Pfizer will pay Scripps Research $100 million over a five year period, during which scientists from Pfizer and the Institute will work together to identify and perform specific projects of mutual interest.
They will jointly study and evaluate therapeutic approaches for diseases such as cancer, diabetes, and mental illnesses. They will develop new tests to rapidly validate these new therapies for potential development as possible novel treatment options that can gain regulatory approval for use in patients.
The company will pay the Institute milestones and royalties on therapeutic compounds created through the collaboration. In addition, Pfizer will have the first right to license many discoveries made at Scripps Research during the agreement.
“This collaborative process-basic biomedical research from which will grow new drugs-will advance both scientific knowledge and human health,” said Scripps Research Institute President Richard A. Lerner, M.D. “It may also speed up the timeframe for translating breakthrough discoveries in the lab into treatments for currently disabling, even fatal diseases.”
“Biomedical researchers share the common goal of curing diseases, whether they’re conducting basic or fundamental science to understand how systems work, or applying scientific knowledge toward the invention of a potential new drug that effectively and safely confronts diseases in patients,” said John LaMattina, president, Pfizer Global Research and Development. “The Scripps Research Institute’s focus on targeted scientific platforms, specific areas of human disease biology and therapeutic areas complements and adds new depth to Pfizer’s current research programs for many critical diseases. Leveraging the strengths the hybrid Scripps/Pfizer research teams brings new power to their ability to study and solve important relevant to uncured diseases.”
The Scripps/Pfizer research teams will build a substantial collaborative portfolio of targeted disease biology projects, and biotherapeutic drug discovery efforts, drawing from resources at both organizations.
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