Wyeth wins world award for investment in Scotland
Translational Medicine Research Collaboration Scoops "Best Investment in Europe" Award at La Baule
Wyeth Pharmaceuticals, a division of Wyeth, was awarded one of three "Best Investment in Europe" titles at the La Baule World Investment Conference for its leading role in creating the world's first Translational Medicine Research Collaboration (TMRC) in Scotland in 2006.
The award was made at the event in France in recognition of Wyeth's large financial investment, its determination to make the project succeed and for the number of highly skilled jobs created, projected at upwards of 120 jobs over five years in Scotland.
Wyeth Pharmaceuticals plans to invest an estimated £33m in the collaboration in its first five years with an option to extend for a further five years. Scottish Enterprise will invest up to £17.5m.
The £50 million collaboration comprises four of Scotland's leading universities (Aberdeen, Dundee, Edinburgh and Glasgow), Wyeth Pharmaceuticals, Scottish Enterprise and NHS Scotland Grampian, Greater Glasgow, Lothian and Tayside, and will provide new impetus for Scotland to lead the world in the development of personalised medicine, bringing new treatments to patients suffering from a range of serious illnesses.
TMRC has already invested almost £8 million of funding to support 28 new research projects covering a wide range of therapeutic areas including cardiovascular and metabolic disease, the central nervous system, oncology, inflammation, and women's health.
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