Pfizer announces new partnership with UC San Diego Health Sciences

Pfizer has entered into a new research partnership with the University of California (UC) San Diego Health Sciences spanning the next five years.

Part of the company's wider Centers for Therapeutic Innovation (CTI) scheme, it will see Pfizer investing up to $50 million (30.7 million pounds) in the academic facility to fund research programmes and cover anticipated milestone payments.

This latest private-public partnership will see staff from both organisations working in close collaboration to help accelerate the translation of innovative science into medicines.

Pfizer has been forming new CTI collaborations since November 2010 and is gradually widening the geographical scope of the scheme, with eventual plans to broaden the initiative to non-US universities.

Dr Jose Carlos Gutierrez-Ramos, senior vice-president and head of biotherapeutics research and development at Pfizer, said: "Our ultimate goal is to bridge the gap between scientific discovery and the delivery of promising candidates to the pipeline."

Last month, the company announced plans to completely acquire the pain specialist firm Icagen, in which it currently owns an 11 percent stake.