Continuing its foray into the world of biotech, Pfizer announced that it is launching Pfizer Regenerative Medicine, an independent research unit that will research and develop new medicines based on stem cell biology.
The unit, which will be based in both Cambridge, England and Cambridge, Massachusetts, will employ 70 researchers. The UK site will focus on neural and sensory disorders, and the Massachusetts researchers will explore endocrine and cardiac research. "Scientists will operate in small, flexible teams, with the capability to make decisions quickly and effectively," said the company.
This is all part of Pfizer's ongoing effort to bolster its pipeline and become a more "biotech-like" company. According to Pfizer's statement, the new unit will announce "significant scientific collaborations" with "leading academic, biotech and pharmaceutical partners" in a few weeks. Chief Scientific Officer Ruth McKernan will head up the project.
"The formation of this new unit represents another key step forward in Pfizer's commitment to be at the forefront of new approaches in biotherapeutics and bioinnovation and to expand our research efforts and expertise into emerging areas of biomedical science, like regenerative medicine, that have great potential for human health," said Corey Goodman, President of Pfizer's Biotherapeutics and Bioinnovation Center.