Gilead Launches 4-Year Cancer Research Program With Yale
March 30 2011 - 9:38AM
Dow Jones News
Gilead Sciences Inc. (GILD) said it will collaborate with the
Yale School of Medicine for at least four years to develop new
cancer therapies.
The multi-disciplinary research partnership will look for the
molecular mechanisms underlying many forms of cancer and seek new
therapies that can overcome the drug resistance that develops in
some cancer patients. Gilead will have the first option to license
Yale inventions produced by the collaboration.
The program will initially span four years with an option to
renew for up to 10 years. Gilead will initially provide $40 million
over the first four years for research support and basic science
infrastructure development and will fund up to $100 million in
costs if the program extends to 10 years.
Research projects will be chosen by a joint steering committee
chaired by Yale Department of Pharmacology Chairman Joseph
Schlessinger.
Gilead shares were up 1.9% to $42.85 in premarket trading
Wednesday.
-By Drew FitzGerald, Dow Jones Newswires; 212-416-2909;
Andrew.FitzGerald@dowjones.com
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