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Drug development venture links translational research, business to launch new therapeutics
Date:6/12/2013

RIVE will function as the "industrial partner" of the Emory Institute for Drug Development (EIDD). Established in 2009, EIDD has an experienced drug development team, equipment and laboratory facilities necessary to transition drug discovery efforts into preclinical and clinical molecules.

"The traditional pharmaceutical research and development operating model is no longer sustainable," says Dennis Liotta, PhD, founder of the Emory Institute for Drug Development (EIDD) and co-inventor of multiple approved drugs. "The marked decrease in the development of new therapeutics is having a uniformly negative effect on global health and threatens life expectancy, quality of life, economic development and national security. Emory's new public-private enterprise is a bold new approach that can help solve this problem."

DRIVE will finance its initial efforts with $10 million in funding received from the monetization of royalties associated with HIV drug emtricitabine (Emtriva) and additional funding from governmental agencies, partner institutions, as well as contributions from philanthropic and investment groups. The new enterprise will also invest Emory's share of financial gains from technology transfer into research, education and patient care.


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Contact: Holly Korschun
hkorsch@emory.edu
404-727-3990
Emory Health Sciences
Source:Eurekalert

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