AstraZeneca leaders traveled to the company’s research facility in Boston this week to meet with representatives of venture capital firms and academic institutions who are interested in learning more about the company’s partnering goals.
Our business model is driven by investment in innovative, prescription-based biopharmaceutical R&D. But the pace of scientific and technological advance means that companies like ours can no longer always go it alone.
More than ever before, we are looking beyond our own laboratories to find partners with complementary skills and common goals. In fact, we are aiming for as much as 40 percent of our pipeline to be sourced from partnerships by 2014.
Shaun Grady, VP Strategic Planning and Business Development, AstraZeneca describes:
“The R&D and VC Days have both been a fantastic opportunity to demonstrate our credentials as a partner of choice in our drive to widen our portfolio through external R&D partnerships or acquisitions. It has been incredibly valuable to discuss face to face our mutual areas of interest with some of our key target audiences in order to gain a better understanding of our common goals and cement future relationships.”
AstraZeneca has nine innovative medicine units responsible for sourcing innovation from both inside and outside our own labs. Members of these teams are constantly scouting for new partnerships and collaborations that could benefit both parties, and ultimately the patients who rely on medical research and our industry for new medicines.
“We are looking for scientific excellence and early and late-stage products, and have established an evaluation framework known as the ‘5 R’s’ to ensure that we are pursuing the most competitive opportunities,” said Mene Pangalos, Executive VP, Innovative Medicines, AstraZeneca.
More detail on these evaluation criteria can be found here.
AstraZeneca has more than 1,200 alliances with academia and industry partners. AstraZeneca is also actively investing in emerging and innovative biotech companies through MedImmune Ventures, our corporate venture capital fund, helping them translate valuable scientific discoveries into exciting and marketable new medicines.
Visit our partnering website for more information or to take an interactive journey through our world of collaborations.