Scripps Institute, Pfizer Enter $100 Million Agreement to Study Uncured Diseases
Thursday, November 30, 2006
The Scripps Research Institute in San Diego has entered into a $100 million agreement with Pfizer to study uncured diseases and ways to treat them. Scripps spokesman Keith Mckeown says the collaboration with Pfizer Global Research and Development is one of the largest agreements in the Institute’s history. He says the money will allow Scripps to recruit more top scientists and buy expensive equipment to aid research efforts.
He says researchers will jointly study and evaluate therapeutic approaches for diseases such as cancer and diabetes and mental illnesses. The goal is to create treatments for patients. Pfizer will pay Scripps Research royalties on therapeutic compounds created through the collaboration. Pfizer also gets the first right to license any discoveries made at Scripps Research during the agreement.
Mckeown: We have monies that will basically pay for more science. And that will produce more discoveries.”