OHSU and Vertex Pharmaceuticals to Collaborate on Drug Discovery and Research Programs
12/17/03 Portland, Ore.Oregon Health & Science University and Vertex Pharmaceuticals Inc. today announced that they will collaborate to discover and develop novel therapies aimed at treating serious diseases. Under the terms of the collaboration, during the next three years, Vertex will fund scientific research projects by OHSU scientists in areas of mutual interest. In addition, Vertex will establish a Vertex Fellowship stipend for selected OHSU graduate researchers.
"Through good-faith efforts on both sides, OHSU and Vertex have entered into a collaboration that has the potential to advance our mutual research initiatives," said Lesley M. Hallick, Ph.D., OHSU provost. "We have entered into a promising scientific and business relationship that we hope will lead to advances in medical science and advances in the understanding of important disease areas."
As part of the collaboration announced today, OHSU and Vertex have settled litigation brought by OHSU against Vertex in December 2001 related to the ownership of certain Vertex patents. Under the terms of the collaboration with Vertex, OHSU has agreed to withdraw its lawsuit against Vertex. In addition, OHSU will receive an exclusive license to certain Vertex patents, giving OHSU the right to further develop and commercialize scientific discoveries covered by these patents. Vertex will retain rights to royalties on future products that are covered by these patents.
"OHSU is committed to advancing the scientific innovations of our faculty and the associated intellectual property that results from our work," said Dan Dorsa, Ph.D., OHSU vice president for research. "We look forward to bringing these innovations to the market to benefit Oregonians."