The Scripps Research Institute entered into a five-year research collaboration with Pfizer Global Research and Development to advance scientific knowledge of diseases and ways to treat themwith emerging technologies. Diseases under study will include cancer, diabetes, and mental illnesses.
Under the terms of the agreement, Pfizer will pay Scripps Research $100 million over the partnership period. Scientists from Pfizer and the Institute will work together to identify and perform projects of mutual interest. They will develop new tests to rapidly validate new therapies for potential development and regulatory approval.
The company will pay the Institute milestones and royalties on therapeutic compounds created through the collaboration. In addition, Pfizer will have the first right to license many discoveries made at Scripps Research during the agreement.