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Cancer Research U.K. unveils Collaborations Initiative

May 29, 2008 1:02 AM UTC

Cancer Research U.K. launched an initiative that pairs academic scientists and life science companies to form new companies focused on developing technologies or therapeutics for cancer. Under the Collaborations Initiative, each newco will be managed by Cancer Research U.K.'s tech transfer arm, Cancer Research Technology, and will receive up to L500,000 ($1 million) in funding over two years. Each industry partner will be a shareholder in the newco with which it is paired and has an option to acquire the newco after early development is complete. Cancer Research U.K. will receive a share of any revenues arising from the newcos. ...