Abbott to Fund Pharmaceutical and Diagnostics Research at the Weizmann Institute of ScienceBy Abbott, PRNE
Tuesday, June 28, 2011
TEL AVIV, Israel, June 29, 2011 -
Abbott (NYSE: ABT) and Yeda Research
and Development Company Ltd., the commercial arm of the Weizmann
Institute of Science (WIS), have signed a three-year agreement in
which Abbott will fund research programs at the Weizmann Institute
of Science in selected health care fields.
The collaboration will explore scientific opportunities in
pharmaceutical discovery, biomarker identification for targeted
drug therapies, and advances in diagnostics technologies.
“The Weizmann Institute and Abbott combined have dedicated
nearly 200 years to improving lives through innovations in science
and technology, and this collaboration is intended to further
advance our shared goal,” said Edward L. Michael, executive vice
president, diagnostics products, Abbott.
Yeda is actively seeking commercial partners to bring
technologies of the Weizmann Institute of Science to the
marketplace, according to Dr. Ruth Ben Yakar, chief business
officer of Yeda. Such partnerships have already yielded
dozens of products currently on the market.
“Appreciating the synergism that can rise from strategic
collaborations between WIS scientists and global science-based
companies such as Abbott, we welcome Abbott to join forces and
promote the development of novel pharmaceuticals and advanced
diagnostic tools,” Dr. Ben Yakar said.
About Yeda Research and Development Company
Yeda Research and Development Company Ltd., established in 1959,
is the commercial arm of the WIS. Yeda initiates and promotes the
transfer to the global marketplace of research findings and
innovative technologies developed by WIS scientists. Yeda owns the
largest portfolio of patents in Israel with 600 live patent
families and over 1,500 patent families filed since 1971. Yeda has
signed approximately 200 agreements with companies on the use of
various WIS patents and established nearly 50 companies.
About the Weizmann Institute of
The Weizmann Institute of Science in Rehovot, Israel, is one of
the world’s top-ranking multidisciplinary research institutions.
Noted for its wide-ranging exploration of the natural and exact
sciences, the Institute is home to 2,700 scientists, students,
technicians and supporting staff. Institute research efforts
include the search for new ways of fighting disease and hunger,
examining leading questions in mathematics and computer science,
probing the physics of matter and the universe, creating novel
materials and developing new strategies for protecting the
Abbott is a global, broad-based health care company devoted to
the discovery, development, manufacture and marketing of
pharmaceuticals and medical products, including nutritionals,
devices and diagnostics. The company employs nearly 90,000
people and markets its products in more than 130 countries.
Media, Hadas Rotbart, +972-3-7691013, or Don Braakman, +1-847-937-0080, both of Abbott
Tags: Abbott, Israel, June 29, Tel aviv