AstraZeneca's Medimmune to collaborate on new oncology biologics lab with Cancer Research UK

Medimmune, the global biologics research and development arm of Anglo-Swedish drug major AstraZeneca (LSE: AZN), has entered into a collaboration to establish a joint lab in Cambridge, UK, with Cancer Research Technology, the commercial arm of Cancer Research UK.

The new laboratory will be the first partnership of its kind of both organizations, and will focus on the discovery and development of biologic cancer treatments over an initial five-year period.

Scientists working in the collaboration will research side-by-side on multiple oncology projects at the CRUK-MEDI Alliance Laboratory, and Cancer Research UK will provide the set-up and operational funding, and will contribute a portfolio of novel drug targets with a team of scientists.