LONDON, July 14 (Reuters) - GlaxoSmithKline said onTuesday it had forged a collaboration with the Francis CrickInstitute, making it the first pharmaceutical company to link upwith the new biomedical centre based in London.
Named after the Nobel laureate who co-discovered themolecular structure of DNA, the Crick will employ 1,250scientists and have a budget of over 100 million pounds ($155million) a year when it is fully operational early in 2016.
The deal with GSK does not involve any money changing handsbut allows teams of scientists from each organisation to workside by side on the underlying biology of diseases, with thegoal of discovering better targets for new medicines.
GSK and the Crick will both contribute resources, includinglab space and staff, and a number of projects are set to startthis year, building up to 10-15 projects in 2016.
Research findings from the collaboration will be shared withthe broader scientific community via joint publication injournals.
The move reflects GSK's commitment to fundamental research,even as its shifts to greater reliance on non-pharmaceuticalbusinesses such as consumer healthcare and vaccines. It followsthe company's decision last month to create a new U.S. researchinstitute focused on the inner workings of cells.
($1 = 0.6457 pounds) (Reporting by Ben Hirschler; Editing by Pravin Char)
Glaxosmithkline (GSK)