Euro71m for trans-lational medicine
Dundee - A new Euro71 million funding package is set to boost medical research in Scotland. The 'Translational Medicine Research Collaboration' aims to bolster Scotland's international standing in medical research and bring lifesaving new drugs to patients more quickly. The deal was announced in New York in early April and involves a partnership between four Scottish universities (Aberdeen, Dundee, Edinburgh and Glasgow), NHS Scotland, Scottish Enterprise and the US-pharma company Wyeth Pharmaceuticals, based in Philadelphia. Wyeth plans to invest an estimated Euro47 million over the first five years, while Scottish Enterprise is providing around Euro24 million. The initiative is set to create 50 jobs at a new laboratory at Dundee University. The number of new jobs may rise to 120 over the course of the next five years. Jack McConnell, Scotland's First Minister, said the partnership was an international first and will benefit the Scottish economy. Scotland has a strong reputation in the life sciences. This viewpoint gained a foothold in February when a leading biotechnology entrepreneur said that Scotland's thriving life sciences sector could attract millions of pounds of research work currently going to the US.