Thursday, March 15, 2012
Merck Invests $90M In San Diego Research Group
Biopharmaceuticals giant Merck said today that it is investing $90M in setting up a new, San Diego research organization, called Calibr. According to Merck, the new, independent not-for-profit will aim to accelerate translation of basic biomedical research into new medicines to treat disease, and will be led by Peter G. Schultz, Ph.D. z is a professor at The Scripps Research Institute. Merck said it will provide funding to Calibr of up to $90M over a period of seven years, and will retain an option to obtain an exclusive, commercial license to proteins or small molecule therapeutic candidates derived from work conducted by Calibr.