BRUSSELS (dpa-AFX) - The Novo Nordisk Foundation the owner of pharmaceutical major Novo Nordisk A/S (NOV.DE), Friday announced that it is funding a new pan-European initiative to accelerate drug discovery and the development of next generation therapeutics for cardiometabolic diseases or CMDs.
As per the foundation, despite Europe's strong position in CMD research, many promising discoveries fail to progress beyond academic laboratories, hence to address this challenge the foundation has launched a new initiative called the CardioMetabolic Bridge that will support selected academic research projects with funding, scientific and commercial mentoring from entrepreneurs and industry experts and access to state-of-the-art facilities.
This initiative has the support of up to 60.2 million euros from the foundation for over six years and this month the initiative is unveiling its first lab space in London followed by sister sites in Italy and Germany.
The CardioMetabolic Bridge will be driven by the BioInnovation Institute or BII, an institute for life science and deep tech innovation in Copenhagen.
On Thursday, NOV.DE shares closed at 37.40 EUR, down 2.41% on the Xetra Stock Exchange.
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