The Scripps Research Institute (TSRI) and ShangPharma Innovation (SPII) announced a collaboration to accelerate the development of drug candidates through scientific collaboration, a services relationship with Shanghai ChemPartner, and sponsored research at TSRI and its drug discovery affiliate, California Institute for Biomedical Research (Calibr). The parties aim to leverage the drug discovery pipeline, expertise, and momentum emerging from the TSRI and Calibr affiliation announced late last year.
SPII facilitates and accelerates drug discovery by offering funding, incubator space, and other essential support to its collaborators. The partnership with TSRI marks a new initiative for SPII to enable its mission to support therapeutic research at the earliest stages with the ultimate goal of getting innovative new treatments to patients.
Under the terms of the collaboration, institute scientists will put forth translational research projects to a joint committee comprising drug discovery experts across TSRI, Calibr, and SPII. In turn, SPII will contribute cash and in-kind services totaling up to $15 million over an initial term of three years. TSRI and Calibr will retain control over assets resulting from the collaboration, with SPII receiving a significant share of future value.
"We are delighted to partner with an experienced group that has complementary infrastructure and resources," Peter G. Schultz, Ph.D., President of TSRI and Calibr said. "This new initiative allows us to further accelerate our mission of creating new medicines for unmet needs in a nimble partnership structure designed to mature the programs before out-licensing, creating significant value for patients as well as for the institute."