Glaxo Invests S$20 Million in Biopolis to Discover Alzheimer and Schizophrenia Drugs
Filed in archive Biotech Hubs and Facilities , Corporate and Industrial News , Drugs, Vaccines and Therapeutics on March 22, 2007
GlaxoSmithKline PLC had invested S$20 million (US$13 million; €9.8 million) in a new laboratory in Singapore's biotechnology hub, Biopolis, as part of its Center for Research in Cognitive and Neurodegenerative Disorders, which focuses on discovering drugs to help cure Alzheimer's disease and schizophrenia.
"This new investment in GSK's research and development facility will enhance our drug discovery capabilities in Singapore. Our goal is to identify a clinical development candidate by the end of 2007 and we are on track to achieving that," director Paul Chapman was quoted as saying in a statement.
The new laboratory opened Tuesday.
Source: International Herald Tribune
Tags: biotech investment biotech+investment cognitive+disorder alzheimer schizophrenia drug+discovery drug
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