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 by ruth 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

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