AstraZeneca announces plans to develop research centre at Karolinska Institutet

AstraZeneca, the FTSE 100 biopharmaceutical giant, on Thursday unveiled plans to create an integrated translational research centre for cardiovascular and metabolic disease and regenerative medicine at medical university Karolinska Institutet's site in Stockholm.

AstraZeneca, the FTSE 100 biopharmaceutical giant, on Thursday unveiled plans to create an integrated translational research centre for cardiovascular and metabolic disease and regenerative medicine at medical university Karolinska Institutet's site in Stockholm.

The centre will run for an initial period of five years and will employ between 20 and 30 scientists, including a number from AstraZeneca. The company will contribute up to $20m per annum, while the Insistutet will contribute its expertise and facilities.

The centre is expected to be operational by the middle of 2013.

Menelas Pangalos, the Executive Vice President of the Innovative Medicines and Early Development biotech unit at AstraZeneca said: "Working side by side and in the same laboratories as scientists from Karolinska Institutet, we can combine AstraZeneca's resources and drug discovery experience with the world-class research of Karolinska Institutet to dramatically accelerate our understanding of cardiometabolic diseases.

"Empowering world-class scientists to collaborate closely, with joint research goals, will speed our ability to translate ground-breaking research into the delivery of new medicines and advance AstraZeneca's scientific leadership in cardiovascular and metabolic disease."

On the same day the company also announced plans to sign a deal with Moderna Therapeutics to develop RNA therapeutics and in a separate statement outlined its strategy to return to growth by driving its on-market growth platforms as it moves through a period of patent expiries and revenue declines.

The share price rose 2.55% to 3,117.50p by 13:05.

NR

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

How the stamp duty holiday is pushing up house prices
Stamp duty

How the stamp duty holiday is pushing up house prices

Stamp duty is an awful tax and should be replaced by something better. But its temporary removal is driving up house prices, says Merryn Somerset Webb…
25 Sep 2020
The electric-car bubble could get an awful lot bigger from here
Renewables

The electric-car bubble could get an awful lot bigger from here

The switch to electric cars is driving a huge investment bubble. But that’s not necessarily a bad thing, says John Stepek. Fortunes will be made and l…
24 Sep 2020
Can Rishi Sunak’s winter plan save the UK economy?
UK Economy

Can Rishi Sunak’s winter plan save the UK economy?

With his Winter Economic Plan, chancellor Rishi Sunak is hoping to support the economy through the dark months ahead as restrictions tighten again. Jo…
25 Sep 2020