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Finance Watch: Scripps Research Models A New Way To Fund Translation

 
• By Mandy Jackson

Private Company Edition: Scripps Research has a new model for translating academic findings into drugs, including a novel fund for financing that work. Also, in venture capital deals, Oyster Point closes a $93m Series B round and Peloton raises a $150m Series E.

Finance Watch

Scripps Research Institute has evolved into a new model that moves scientific breakthroughs in its academic labs into preclinical and initial clinical studies that translate those findings into proof-of-concept for new drug candidates. That new model includes a novel way to fund that translational work that turns ideas into valuable assets worthy of biopharmaceutical company investment.

Scripps President and CEO Peter Schultz, after he was named CEO in 2015, eventually merged the nonprofit translational medicine group Calibr – where he continues to serve as president and CEO – into the biomedical research institute, which is based in San Diego with a campus in Jupiter, FL

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