ExonHit Therapeutics joined the PharmaCog project, an industry-academic partnership focused on tackling bottlenecks in Alzheimer disease research and identifying new biomarkers for the disease. The €20 million (about $27 million) PharmaCog consortium operates under the European Innovative Medicines (IMI) initiative.
Co-ordinated by GlaxoSmithKline R&D and the Université de la Méditerranée, Marseille, France, the project includes researchers from five SMEs, 11 global pharma companies, and 12 academic institutions. The EMEA is an associate partner.
The IMI concept was established in 2008 as a public-private collaboration between the European Pharmaceutical industry (represented by the EFPIA) and the European Commission. The initiative aims to address major logjams in drug discovery and support the faster discovery and development of new therapeutics. IMI has a total budget of €2 billion (roughly $2.7 billion) shared across multiple research projects.