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Universities and drug firms launch innovative R&D fund

A £40-million initiative to support medicines research has been set up between three leading UK universities and three global pharmaceutical companies.

The fund, called the Apollo Therapeutics Fund, has been established with financial backing from pharmaceutical companies AstraZeneca, GlaxoSmithKline and Johnson & Johnson. They will be supporting work at the University of Cambridge, Imperial College London and University College London.

The pharmaceutical companies will each contribute £10m to the fund over six years, with each of the universities contributing £3.3m via their technology transfer offices. In addition to funding, the industry partners will provide R&D expertise and assistance with commercial evaluation and development of projects.

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