GSK to collaborate with academia
21 Jul 2008
GlaxoSmithKline has launched a new initiative which the company says will optimise the early clinical development of new medicines in collaboration with top academic institutions.
The pharmaceutical giant has signed its first agreement with the University of Cambridge, for a programme which will aim to develop a novel agent for the treatment of obesity and addiction disorders.
It says the university will bear some financial risk for the project but will also stand to be rewarded if it is successful.
GSK's senior vice-president of drug discovery Patrick Vallance said the scheme provides leading academics with "the opportunity to become directly involved in developing medicines for patients and to have the freedom to take the programme in exciting new directions".
Patrick Sissons, regius professor of physic and head of the school of clinical medicine at Cambridge, expressed his department's pleasure at being involved in the "innovative new partnership".
Meanwhile, GSK announced today it has come to a settlement in the litigation with Biota Holdings over Relenza (zanamivir).
Under the agreement, GSK admits no liability but is to pay $20 million AUD (£10 million) to Biota.