(Reuters) – GlaxoSmithKline and Johnson & Johnson are taking

a new strategy for the medicines of the future to the

associated with the firm of venture capital Index Venture, a

unusual Alliance.

the two pharmaceutical will contribute equally to a fund

of 150 million euros (199 million dollars) that goes to

launch Index for investing in life sciences projects

that are in the stages early, especially in Europe.

the project seeks to capitalize on the successful registration of Index

in Fund firms with only one or two projects that already has

produced a number of companies that were then sold or

removed bags.

Agreements as the sale of PanGenetics, a supported signature

by Index, from Abbott Laboratories has generated thick returns and

attracted to the industry, whose investments in their own

research departments have produced returns

disappointing in recent years.

“This is an entirely new model of collaboration”,

said Francesco De Robertis, partner of Index, in interview

phone from Amsterdam, where the three partners will explain your

strategy at a Conference of biotechnology later the

Wednesday.

Under the agreement, existing Index partners will provide the

half of the cash and the venture capital firm

it will keep all rights of decision-making in the portfolio

of companies in which it invests.

Vision INTERIOR

J & J and GSK will not have to acquire preferential rights

any new product arising from the investment, although they may

have an internal view of them.

The agreement reflects the new willingness of some great

names in the industry to consider sharing the efforts of

the early stages research.

Against a wave of patent expirations, pressure on

the prices of new drugs and poor returns of

investment in research and development, the large

drug companies are eager to consider different ways of

approaching the best science.

“ten to five years ago would have been more difficult to do this,

“

but pharmaceutical research and development productivity

“

has fallen and companies are testing new approaches”,

said De Robertis.

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