Funding opportunity
Merck Serono has teamed up with Fast Forward LLC, the not-for-profit arm of the American National Multiple Sclerosis Society, to speed research and development on multiple sclerosis projects.
The collaborative partnership will evaluate and fund early stage clinical development projects with biotech companies, individual researchers or academic institutions, investing up to $19 million.
The two partners have entered a two-year worldwide agreement that may be extended for an additional three years.
Fast Forward was established by the American National Multiple Sclerosis Society to help bridge the gap between research and drug development by connecting university-based MS research with private-sector drug development, and funding small biotechnology companies to develop new therapies and re-purpose approved drugs as new treatments for MS. In 2008 the American National MS Society invested nearly $50 million to support 440 research projects around the world.
“Thanks to the National Multiple Sclerosis Society’s history of supporting MS research and programme services for people with MS, we have tremendous knowledge about MS and the needs of people with MS. Yet the ability of research institutions and business to bring projects forward is lagging, particularly in this uncertain economic climate,” said Tim Coetzee, Fast Forward’s Executive Director. “Partnerships with industry leaders like Merck Serono equip us to move even more aggressively toward our shared goal of a world free of MS.”
“Identification of innovative opportunities to change the MS treatment paradigm is a critical aspect of addressing this disease. We are pleased to bring to this alliance not only its financial support, but our years of expertise and commitment in the field of MS research and development,” said Bernhard Kirschbaum, PhD, Executive Vice President, Global Research and Development, Merck Serono.
Merck Serono’s contribution will come from its Early Stage Commercial Company Fund and its Innovation Accelerator Fund. Both will provide resources to under-funded stages of the drug development process and align with Fast Forward’s strategy, to identify the most promising drug discovery research and accelerate the drug development process by providing funding to move it forward.
Fast Forward will disseminate requests for proposals over the next three months with initial funding of proposals anticipated by December 2009. The overall selection of award winners will be made by Fast Forward, with participation by Merck Serono under Fast Forward’s standard assessment process. The priority areas to be selected for development partnership will be determined by a joint committee comprising Fast Forward staff and representatives from Merck Serono. All funding disbursements will be managed and approved by the Fast Forward board.
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