The Scripps Research Institute Enters Major Five-Year $100 Million Collaboration with Pfizer
The Scripps Research Institute announced it has entered into a five year research collaboration with Pfizer Global Research and Development to advance scientific knowledge of uncured diseases and novel ways to treat them, making full use of emerging technologies and resident talent from both organizations. 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.
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