Pfizer is bankrolling a biotech start-up that will concentrate on developing new stem cell therapies for eye disease. Scripps Research Institute's Martin Friedlander has undertaken animal studies that identified bone and blood-marrow stem cells that could repair damaged blood vessels in the eye. And the new company, EyeCyte, will be responsible for advancing that research into the clinic. Pfizer is investing $3 million in the company and has an option to buy it if continues to look promising.
"Pfizer has put its flag in the ground that there is a future in regenerative medicine," said Pfizer's Corey Goodman.
- here's Pfizer's release [1]
- read the report [2] from Forbes
Related Articles:
Pfizer blazes new research path with university deal [3]
Pfizer to invest $50M in biotech start-ups [4]
A look inside Pfizer's biotech center [5]
Pfizer hires new R&D chief, launches biotech center [6]
Links:
[1] http://www.fiercebiotech.com/press-releases/eyecyte-inc-secures-series-funding-pfizer
[2] http://www.forbes.com/business/2008/06/21/pfizer-blindness-research-biz-health-cx_rl_0623stemcell.html
[3] http://www.fiercebioresearcher.com/story/pfizer-blazes-new-research-path-university-deal/2008-06-10-1?utm_medium=rss&utm_source=rss&cmp-id=OTC-RSS-FBR0
[4] http://www.fiercebiotech.com/story/pfizer-to-invest-50m-in-biotech-start-ups/2007-05-15
[5] http://www.fiercebiotech.com/story/look-inside-pfizers-biotech-center/2007-11-09
[6] http://www.fiercebiotech.com/story/pfizer-hires-new-r-d-chief-launches-biotech-center/2007-10-04