Pharmaceutical giant Pfizer announced a $100Millions support into its own stem cell development program.
Pfizer’s cash injection is the single highest funding the stem cell discipline has ever received from the corporate sector, the paper reports. But “it’s more than just the money–it’s about opening dialogue with the regulators, that’s where the money merit is.
Pfizer had its own independent research unit, Pfizer Regenerative Medicine, based in both Cambridge, England and Cambridge, Massachusetts. The unit conduct research that is aimed at developing new medicines based on stem cell biology, the unit at present focuses on small molecules and cell therapy.
According to Chief Scientific Officer Ruth McKernan, they are attempting to take the whole effort to the next stage and the recent cash injection is a strong indication about that, they really looking forward to contribute something practical and scalable that will start opening to cell-based therapies.
Determined to do something positive in the field of stem cell therapy Pfizer also relied on collaborations.
Very recently Pfizer came into limelight by collaborating with the UK’s University College London (UCL). Pfizer has announced a deal with the University College of London to develop treatments for blindness.
Pfizer collaborates with U.K.’s struggling Intercytex, which is providing Pfizer with an embryonic stem cell line in exchange for research funding.
Earlier this week, the Pfizer also announced a deal week with University of Wisconsin’s Alumni Research Foundation for use of their human embryonic stem cells.
According to Wisconsin Gov. Jim Doyle, having together UW and Pfizer like giants in the field of biopharmaceutical research and stem cell research is like a step closer towards finding relief from diseases like diabetes, Alzheimer’s, Parkinson’s, multiple sclerosis and cancer.