US drugmakers form venture with PureTech

Source: Healthcare Digital

Date :10/07/2008 04:23:50

Pfizer Inc, Merck & Co and Eli Lilly & Co will invest up to US$39 million to start a research company aimed at speeding the discovery of new medicines.

The drugmakers have joined with venture capital firm PureTech Ventures LLC to form Enlight Biosciences LLC.

Enlight will develop technology that will connect preclinical research, clinical development, and medical practice.

It will develop these technologies in a pre-competitive model, according to a statement.

Enlight has already initiated programs in the areas of molecular imaging, biologics, and drug delivery.

The company will also launch programs in other areas.