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Japanese Chemical Company to Fund Disease Research at Boston Medical Center.
Knight Ridder/Tribune Business News, January, 2003
By Jeffrey Krasner, The Boston Globe Knight Ridder/Tribune Business News
Jan. 10--Takeda Chemical Industries Ltd. of Japan will pay $13.7 million over three years to fund research at Beth Israel Deaconess Medical Center looking at the molecular causes of metabolic diseases including diabetes and obesity, the hospital said yesterday.
The deal, one of the largest industry-sponsored research projects at a local teaching hospital in recent years, is intended to develop treatments for diabetes and obesity. Takeda, Japan's largest pharmaceutical firm, will have an exclusive option to negotiate licenses to any drug candidates developed. The agreement could be extended by two years with funding reaching $25 million.
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