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Business

SRI spins off pharmaceutical development

June 7, 2004 | APPEARED IN VOLUME 82, ISSUE 23

SRI International has spun off Bridge Pharmaceuticals, a drug development services group that works with laboratories in Asia to serve the U.S. and European markets. Bridge raised $3.5 million in an investment round led by WI Harper Group. The company will continue to work in partnership with SRI's PharmaStart initiative, a consortium including four California universities aimed at expediting the development of university-based drug research. Bridge has licensed from SRI three late-stage preclinical drugs for cancer treatment.

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