Eli Lilly is giving $52M to Purdue for pharmaceutical research

WEST LAFAYETTE, Ind. — Eli Lilly and Co. will give Purdue University up to $52 million over five years as part of a new research endeavor between the two institutions, marking Purdue’s largest collaboration with a single company.

The groups will initially focus their research on improving the delivery of injectable pain medicines and developing ways to reduce risks associated with investing in drug development and more effectively predict the outcome of new therapies in humans.

"The biomedical revolution is upon us, but harnessing its full potential will require strong collaboration between academic research centers and industry partners," said David Ricks, Lilly’s chairman, president and CEO, in a news release.

Purdue researchers from the natural and physical sciences, engineering and veterinary medicine will contribute to the collaboration with Lilly researchers.

Read more: http://www.indystar.com/story/news/college/2017/07/06/eli-lilly-commits-52-m-purdue-pharmaceutical-research/452968001/