Europe injecting $228M into drug discovery work

In an ambitious bid to improve on Europe's position as a leader in the field of drug development, the European Commission and members of the European Federation of Pharmaceutical Industries and Associations announced plans to inject $228 million into drug discovery efforts.

The money will be handled by the Innovative Medicines Initiative, which agreed at the beginning of this year on a $360 million package to support the search for new drugs. EU Commissioner for Science and Research Janez Potočnik says the money is intended to make the continent more attractive to the pharma R&D field. And the IMI has appointed Michel Goldman, a professor of immunology, as its chief agent provocateur in reforming the continent's R&D infrastructure.

"We should see results from this exciting new research mechanism very soon and [...] new innovative medicines should reach European patients faster," said Potočnik.

- read the story from EurActiv