Pfizer announced a joint initiative with the Shanghai Institutes for Biological Sciences (SIBS) to support fundamental research in China. As part of the initiative, Pfizer China will provide US$500,000 each year over three years to fund health-related fundamental research projects at SIBS and its application to drug discovery and development programmes in the country. This is the latest in a series of Pfizer initiatives aimed at supporting China as it becomes one of the leading contributors to healthcare innovation worldwide.

"This collaboration represents a major commitment by Pfizer to fundamental research and development in China," said Jeff Kindler, Pfizer's chief executive officer. "Our investment is an example of our dedication to leading healthcare innovation, not only in the last mile of drug development, but from much earlier stages of exploration into basic healthcare principles. Innovation in these areas has the potential to truly alter the way we look at healthcare over the next 20 years."

Fundamental research, also known as basic research, is generally defined as pure scientific investigation to gain knowledge and understanding about the physical world. While this type of research does not necessarily lead to immediate commercial gain, it has the potential to lead to important new discoveries that ultimately improve healthcare and help save lives.

"Our choice of Shanghai Institutes for Biological Sciences as a research partner demonstrates our high regard for the scientific expertise and capabilities of SIBS," said Martin Mackay, president, Pfizer Global Research and Development. "China is increasingly seen as a source for innovative healthcare research, and we are proud of our ongoing investment in the outstanding science and people here." Research projects will be selected and developed jointly by Pfizer and SIBS scientists.

"Today marks a new milestone in the collaboration between SIBS and Pfizer," said Jiarui Wu, vice president of SIBS, "The agreement injects momentum into the innovation activities at SIBS and Pfizer, and this collaboration will definitely accelerate the development of new healthcare solutions."

Pfizer's China Research and Development Center, a state-of-the-art facility that provides global drug development support capabilities, research collaborations, and strategic alliance opportunities to China and the Asian region, is based in Shanghai. It employs more than 330 staff and is the largest R&D center for a multinational pharmaceutical company in China.

"Strategic alliances such as this one are needed to increase the opportunities to produce the science, technology and product candidates that lead to new medicines," said Al Gabor, regional president for Pfizer's North Asia, India, Pakistan, and Thailand region. "This collaboration with SIBS is a testament to Pfizer's continued commitment to the city of Shanghai, and to China as a whole."