Pfizer establishes Global Centers for Therapeutic Innovation network

Pfizer has announced the launch of a new network of partnerships with academic institutions, which is expected to strengthen its research and development efforts in the coming years.

The pharmaceutical company has established its Global Centers for Therapeutic Innovation scheme via an inaugural collaboration with the University of California, allowing Pfizer experts to work side-by-side with staff from the academic medical centre.

This scheme will see Pfizer provide its partners with funding and access to its research tools and antibody libraries, as well as equitable intellectual property rights, in order to encourage new breakthroughs in medicinal science.

Initially, the scheme will focus on collaborations with medical centres in the US, but is scheduled to be extended into Europe and Asia from 2012 onwards.

Dr Mikael Dolsten, president of Pfizer Worldwide Research and Development, said: "We are excited to pioneer this approach to seek to translate science into novel proofs of mechanism in a more efficient and accelerated manner to better serve patients."

Earlier this month, Pfizer published its financial report for the third quarter of 2010, reporting a 39 percent year-on-year revenue increase.