Israel’s Hadassah, AstraZeneca to Develop Drugs to Treat Cancer, Diabetes and Respiratory Disease
Israel’s Hadassah Medical Organization, via Hadasit, its technology transfer arm, has partnered with AstraZeneca plc, the global pharmaceuticals giant, to collaborate on discovering and developing treatments for cancer, diabetes, and respiratory diseases, Israel’s Globes business daily reported.
“Our collaboration agreement with AstraZeneca will create a dialogue between physicians, scholars and researchers across both companies,” Hadasit CEO Einat Zisman said in a statement. “The synergies created by the combined research capabilities and access to the diverse research infrastructures of both parties will produce an integrated approach to clinical research questions and the development of medicines and diagnostic tests.”
As part of the agreement, AstraZeneca’s Innovative Medicines & Early Development group will work with Hadassah scientists for an initial period of three years, with AstraZeneca to market any medical breakthroughs developed through the partnership, paying fees to the Israeli group based on those revenues.
AstraZeneca showed it was keen to deepen its involvement in Israel by bidding to establish a biotech incubator, thought it lost to a consortium of OrbiMed Advisors LLC, Johnson & Johnson (JNJ), and Takeda Pharmaceutical Co. Ltd. (TSE: 4502), Globes said.
“AstraZeneca now has a more intense focus on early stage academic and biotech alliances. We look forward to collaborating with Hadasit on scientific research and pharmaceutical development here in Israel,” said AstraZeneca Israel president David Goren. “I am convinced this agreement has the potential to strengthen our pipeline of medicines in our core therapy areas.”