More private money going towards grants to research and create new drugs…pharma is looking to expand their biotech interests in a number of ways. Under this agreement, the University of San Francisco will retain patent rights, but Pfizer will ahve the right to negotiate licenses. Venture capitalists and government grants have funded such projects in the past, so this is a new direction for Pfizer. BD
UC San Francisco and drug giant Pfizer Inc. are embarking on a novel, broad-ranging research collaboration that will provide up to $9.5 million infunding for university studies that could lead to new drugs or biomedical tools. The three-year agreement being announced today is part of Pfizer's attempt to break the traditional mold of pharmaceutical development and embrace the nimble work style of biotechnology companies that build on cutting-edge research.
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