15 major research projects have been chosen under the Innovative Medicines Initiative, a public-private partnership which is designed to boost Europe's biopharmaceutical industry.
The European Commission will contribute €110 million under the deal, while the European pharmaceutical industry (EFPIA) is providing €136 million of in-kind funding.
Major pharmaceutical companies within the association will fully fund their own participation by providing R&D resources including staff, laboratory facilities, materials and clinical research. European Community funds will be allocated exclusively to other participants including SMEs, patient groups and academic researchers.
The projects covered by the initiative will foster understanding of health issues such as diabetes, pain, severe asthma and psychiatric disorders, while increasing drug safety.
The EU executive said the projects will address delays in bringing new medicines to market in Europe. Enhanced data exchange between researchers and better education and training in the pharmaceutical sector are also a central part of the plan.
This initiative marks the first time that pharmaceutical competitors are pooling their resources, together with research organisations, patient groups and other stakeholders in large consortia, in order to develop generic, pre-competitive knowledge.
