Under 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.
About The Scripps Research Institute
The Scripps Research Institute is one of the world's largest independent, non-profit biomedical research organizations, at the forefront of basic biomedical science that seeks to comprehend the most fundamental processes of life. Scripps Research is internationally recognized for its discoveries in immunology, molecular and cellular biology, chemistry, neurosciences, autoimmune, cardiovascular, and infectious diseases, and synthetic vaccine development. Established in its current configuration in 1961, it employs approximately 3,000 scientists, postdoctoral fellows, scientific and other technicians, doctoral degree graduate students, and administrative and technical support personnel. Scripps Research is headquartered in La Jolla, California. It also includes Scripps Florida, whose researchers focus on basic biomedical science, drug discovery, and technology development. Currently operating from temporary facilities in Jupiter, Scripps Florida will move to its permanent campus in 2009.
About Pfizer Global Research and Development
Pfizer Global Research & Development is the world's largest privately-owned biomedical research organization. Pfizer Inc discovers, develops, manufactures and markets leading prescription medicines for humans and animals. More information about Pfizer can be found at www.pfizer.com
Last reviewed: By John M. Grohol, Psy.D. on 21 Feb 2009
Published on PsychCentral.com. All rights reserved.