The projects will promote understanding of health issues such as diabetes, pain, severe asthma and psychiatric disorders, while enhancing the safety and efficiency of new medicines.
The awards under IMI are being made to academic institutes and small companies. The European Commission will contribute €110 million, with the pharmaceutical industry providing €136 million in kind by supplying staff and equipment.
As reported by Reuters, the collaboration marks for the first time that the pharmaceutical companies have pooled their resources with research organisations in such a way.
Janez Potoenik, The EU Commissioner for Science and Research, said: “In times of crisis, such a model of cooperation is proving particularly well suited to answering both EU public health and economic needs.”