Pfizer and UCB form UK joint venture to speed up drug discovery

Global drug giant Pfizer and Belgium's UCB have formed a joint venture company in the UK to be known as Cyclofluidic. The aim of the JV is to develop a microfluidic closed loop lead optimization platform that will reduce the length of the drug discovery process. Pfizer and UCB will each contribute $1.7 million to fund the new firm and own it jointly, with the local government's Technology Strategy Board, which invests in new technologies that could be of benefit to the UK, matching their investment.