Published Date : Oct 25, 2013
Harrington Discovery Institute at University Hospital’s drug development initiative has come together with New York’s Alzheimer’s Drug Discovery Foundation in order to speed the commercialization and development of drugs to cure Alzheimer disease.
Dr. Jonathan Stamler, Director of the Harrington Discovery Institute said that as a part of the merger, the researchers acting as ADDF Harrington Scholars will maintain the path for the drugs from the Harrington Discovery Institute right from the bench to the clinic, and will profit the money from the foundation itself.
Moreover, the scholars will have considerable access to the Shaker Heights-based, BioMotiv, which is a unique way of leveraging the profit-arm of the Harrington Project for Discovery & Development.
Both organizations are making strong efforts in substantially supporting the development of effective and promising drug therapies present in the development pipeline. Their strengths come from various investors in this field and other clients in the pharmaceutical industry. The project’s ambitious mission and scope are clearly designed to deal with the regulatory and economic environmental conditions across the globe.
This $250 million drug development project initiation by the University Hospitals early last year was basically anchored by a $50 million donation from a local philanthropist named Ron Harrington. His family was involved in the sale and development of Edgepark Medical which happens to be a medical supplies company located in Twinsburg.