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news.Pfizer has decided to team up with the University of California, San Diego Health Sciences via its Centers for Therapeutic Innovation (CTI) to ramp up drug discovery and development program.
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Pfizer expects to invest up to $50m for research programs and milestone payments to UC San Diego Health Sciences for successful projects.
The tie up allows the scientists from both the parties to work together in a dedicated lab space at Pfizer’s La Jolla research and development campus.
As per the agreement, Pfizer expects to provide funding for the pre-clinical and clinical development of sponsored programs, offer CTI partners equitable intellectual property rights and grant milestone payments and royalties related to the advancement of drug candidates.
Pfizer BioTherapeutics R&D senior vice president and head Jose Carlos Gutierrez-Ramos said the collaborative partnerships formed through the Centers for Therapeutic Innovation between Pfizer and academic medical centers allow medical and clinical experts to join with Pfizer’s scientists and advanced drug development capabilities to speed the translation of science into medicines for patients.