GlaxoSmithKline First Drugmaker to Hook Up With the Crick Institute to Develop New Drugs

GlaxoSmithKline said on Tuesday it had forged a collaboration with the Francis Crick Institute, making it the first pharmaceutical company to link up with the new biomedical center based in London.

Named after the Nobel laureate who co-discovered the molecular structure of DNA, the Crick will employ 1,250 scientists and have a budget of over 100 million pounds ($155 million) a year when it is fully operational early in 2016.

The deal with GSK does not involve any money changing hands but allows teams of scientists from each organization to work side by side on the underlying biology of diseases, with the goal of discovering better targets for new medicines.

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