The BioIndustry Association (BIA) welcomes a recent announcement by the Medical Research Council that it is to provide £7 million of funding for 15 research projects to study 22 chemical compounds provided free-of-charge by AstraZeneca.
The MRC-AstraZeneca collaboration was announced by the Prime Minister in December 2011 as part of the Strategy for UK Life Sciences.
Steve Bates, Chief Executive of the BIA, said:
“Today’s funding announcement signals the beginning of an exciting coming together of academia, industry and government to create new pathways to develop novel therapies for a range of serious conditions. The prospect of de-risking private investment in this way and supporting the development of these products for patients through innovative ways of working shows how the biopharmaceutical sector is responding creatively to the challenge of getting more treatments to market.”