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The Scripps Research Institute has inked a five-year research collaboration deal with the international pharmaceutical company Bristol-Myers Squibb, based in New York City. In the collaboration, the institute will apply its world-renown expertise in chemistry to accelerate the discovery and synthesis of new drugs for possible clinical development by Bristol-Myers.
Unlike the institute's previous multiyear collaboration with Pfizer Inc., the financial terms of the institute's new partnership with Bristol-Myers have not been publicly disclosed. According to Scripps' 2006 announcement about its then new program with Pfizer, the pharma company paid $100 million to the institute during the five-year collaboration. Scripps' collaboration with Pfizer resulted in "a pain drug that advanced through phase II trials, development of drug safety assays and access to novel synthetic chemistries," said Scott Forrest, vice president for business development for Scripps.
While Pfizer partnership included the entire institute, the Bristol-Myers' collaboration involves a "select...