GlaxoSmithKline is planning to create an independent, nonprofit research institute that will attempt to pioneer new technologies and approaches for decoding how genes are controlled and how they function.
The London pharmaceutical giant, which has large operations in the Philadelphia region, will invest more than $95 million over the next five years to launch the Altius Institute for Biomedical Sciences in Seattle.
GlaxoSmithKline (NYSE: GSK) and Altius have signed a 10-year collaboration agreement that provides long-term support for the institute, which also expects to attract funding from public and other sources.
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