Time to change the school fight song? Moolah! Moolah! anyone?
Yale signed a $140 M deal with Gilead today, agreeing to help the company with basic research into genetic basis and molecular mechanisms of cancer. The deal called for $40 M upfront and up to another $100 M over the following 10 years.
Gilead has had a string of recent acquisitions in the cancer area and is looking to strengthen its capabilities in discovery. Yale was selected as a partner with a strong track record. The goal of the partnership is to develop novel targets in areas of unmet need. As new targets are discovered, Gilead will design drug candidates and test them in the clinic.
The deal represents just the latest between big pharma and academic centers. Previous deals have been announced at institutions like Harvard, Columbia, Washington University and UCSF with big pharma counterparts. See Fierce Biotech.
Posted by Bruce Lehr March 30th 2011.