Pfizer to invest $36m in Aust

Pfizer, the world's biggest drugmaker, has earmarked AUD$36.4 million over four years for Australian collaborations.

Pfizer's strategic alliances division, which looks after technology collaborations and in-licensing, has sequestered the funds, which will be available if Pfizer is successful in its application for funding under round 2 of the federal government's Pharmaceuticals Partnerships Program (P3).

The P3 scheme is open to any company with a track record of undertaking drug R&D activity in Australia. Companies receive 30 cents for each additional dollar they spend on eligible R&D in Australia up to a maximum grant amount of $10 million.

Pfizer clinical research director Kristina Cabala said that the allocation was unusual as funds were usually given on a competitive basis.

"This is a vote of confidence from our headquarters that they've seen good work come out of Australia in the past," she said. Cabala said Pfizer would be scouting for collaborations and alliances of all sizes from basic research, through to clinical research and translational research.

Pfizer's research alliance manager, Nicola Leaney, will be responsible for disseminating potential collaborations globally to the right research scheme and for overseeing contracts with collaborators.

Round 2 of P3 closed last week and results will be announced in the new year. Australian Biotechnology News has learned that large companies faced on onerous task in preparing applications for the program -- at least one big pharma is said to have abandoned the undertaking because of the red tape involved.

In round 1 of P3, announced in April, 11 pharmaceutical and biotech companies received funding, including CSL, Eli Lilly Australia, Mayne Pharma and Merck Sharp & Dohme.