LONDON (Alliance News) - Investment company Imperial Innovations Group PLC on Monday said it has committed GBP3.3 million to the Apollo Therapeutics Fund.
The GBP40.0 million fund is a collaboration between pharmaceuticals giants AstraZeneca PLC, GlaxoSmithKline PLC and Johnson & Johnson Inc and the technology-transfer offices of Imperial College London, University College London and University of Cambridge.
The fund will back translating academic therapeutic discoveries into new medicines at an early stage, Imperial said.
"We are delighted to be at the heart of this consortium, which aims to significantly increase the pace at which novel academic research is translated from laboratories to patients," said Imperial Innovations Chief Executive Russ Cummings.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Astrazeneca (AZN)
Glaxosmithkline (GSK)
