GlaxoSmithKline invites entries for 2014 Discovery Fast Track Challenge

GlaxoSmithKline has launched its 2014 Discovery Fast Track Challenge, a scheme aimed at accelerating the development of innovative compounds.

Building on the success of its first programme in 2013, the initiative invites academic scientists to submit their most innovative drug research proposals, including data about the biological targets or pathways they are researching and the scientific rationale explaining how this early-stage research could direct future drug development.

Scientists will have the chance to collaborate with GlaxoSmithKline's Discovery Partnerships with Academia (DPAc) team to test their hypotheses using the company's extensive library of compounds, with the ultimate aim of developing them into new medicines.

Last year, the scheme ran in the US and Canada, but it is now being expanded into Europe for the first time.

Pearl Huang, global head of the company's DPAc team, said: "Through this challenge we're paving the way for innovative new collaborations between academic scientists and investigators in GlaxoSmithKline's DPAc team."

Last month, the firm announced its financial results for 2013, during which it achieved a total turnover of 26.5 billion pounds, up by one percent year on year.