Merck announced yesterday the creation of a nonprofit biomedical research institution for translational medicine, focused on the discovery of innovative, new medicines to treat disease. The institute, called the California Institute for Biomedical Research (Calibr), is located in San Diego and will work collaboratively with academic scientists to advance discoveries to preclinical proof of concept, at which point a commercialization partner will be sought. Merck has the option to license any therapeutic candidates that result from research conducted.
Leading the institute is Peter G. Schultz, Ph.D, a renowned chemist at The Scripps Research Institute and serial biotechnology entrepreneur who has founded companies such as Affymax Research Institute, Syrrx, Kalypsys, Phenomix, Symyx Therapeutics, Ilypsa, Wildcat Technologies and Ambrx.
Ambrx is a client of Russo Partners, and we are currently focused on raising awareness of the company’s antibody drug conjugate (ADC) program, which utilizes the company’s protein medicinal chemistry technology to create best-in-class ADCs.
Merck will invest $90 million into the new institute over the next seven years, during which 150 employees will be hired. Key academic institutions in the area include The Scripps Research Institute, The Salk Institute, University of California, San Diego and Sanford-Burnham Medical Research Institute.
Read more about the new institute in the following articles from Xconomy and the San Diego Union-Tribune: