Pfizer Signs Up Seven New York Institutions To Create Biomedical Discovery Engine
Pfizer doesn't exactly do things by halves. Two years after pulling off the sector's biggest merger, it now appears to be carrying out the largest-scale – and most ambitious – academic tie-up yet.
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Managing Partner at Ascent Biomedical Ventures Geoffrey Smith recently began a new role at Mount Sinai Medical School that is helping academics translate their knowledge into real-world commercial opportunities.
The collaboration is the third in its localized Centers for Therapeutic Innovation project, intended to nudge academics toward commercial projects.
Eli Lilly & Co. gained a foothold in New York with its acquisition of ImClone Systems Inc. in 2008. Now it's looking to make more of a splash in the city and strengthen ties with local academic powerhouses by taking up residence in a new state-of-the-art biotech facility.