Pfizer will deal with stem cells
On November 14, Pfizer announced the launch of a new research division of Pfizer Regenerative Medicine. This independent research unit in its work will rely on the latest scientific data in the study of stem cell biology, which will provide an opportunity to understand and develop a new generation of regenerative medicines for the needs of medicine, the company said in a press release.
It is expected that Pfizer will employ about 70 researchers in this project, which the company will hire by the end of next year. Some of them will work in the UK, some in the USA and will focus on the problems of treatment of cardiovascular diseases, diabetes and cancer. According to Ruth McKernan, the head of the new division, the company plans to allocate $100 million. For the next 5 years for research in the field of stem cell research.
Corey Goodman, president of Pfizer's biotherapeutics and bioinnovation center, noted that the economic crisis has caused some damage to the biotechnology sector, which is why companies are facing the need to reduce their research projects, and therefore the new Pfizer division will be able to help and support some the most promising young companies.
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