(BUSINESS WIRE)--Pfizer today announced the launch of a new research unit known as Pfizer Regenerative Medicine. This independent research unit will build on recent scientific progress in understanding the biology of stem cells and the opportunity that provides, to discover and develop a new generation of regenerative medicines for major medical needs. The new unit will announce several significant scientific collaborations in the coming weeks that will place Pfizer at the forefront of an emerging area of science that could one day bring hope and benefit to millions of patients worldwide.

Scientists at Pfizer Regenerative Medicine will explore the use of stem cells to develop future treatments that may prevent disability, repair failing organs and treat degenerative diseases. The ultimate goal will be to deliver new medicinal products that can pave the way for the use of cells as therapeutics.

“Pfizer Regenerative Medicine represents a great opportunity to focus world-class research in a field that holds considerable promise for biomedical science and for the treatment of many debilitating conditions such as diabetes and neurodegenerative disorders.” said Rod MacKenzie, PhD, head of Worldwide Research at Pfizer.

Corey Goodman, PhD, President of Pfizer’s Biotherapeutics and Bioinnovation Center, said, “The formation of this new unit represents another key step forward in Pfizer’s commitment to be at the forefront of new approaches in biotherapeutics and bioinnovation and to expand our research efforts and expertise into emerging areas of biomedical science, like regenerative medicine, that have great potential for human health.”

The unit will be led by Chief Scientific Officer, Ruth McKernan, PhD, who said “I’m very excited to lead this new research unit. While there is still a lot to understand about how stem cells can be used therapeutically, we believe it is one of the most promising areas of scientific research.”

Pfizer Regenerative Medicine will operate as one of Pfizer’s new small, independent research units to help it foster a biotechnology culture and environment. A key component to the success of the units will be collaboration with leading academic, biotech and pharmaceutical partners around the world. Details of Pfizer’s scientific collaborations will be announced in the coming weeks.

Pfizer Regenerative Medicine will be co-located in the biotech hubs of Cambridge, UK and Cambridge, Massachusetts in the United States. It is expected to expand to employ around 70 researchers. Scientists will operate in small, flexible teams, with the capability to make decisions quickly and effectively.

The Cambridge UK site is based at Granta Park and positions Pfizer in one of the strongest biotech regions in Europe. This unit will focus on neural and sensory disorders. The Cambridge, Massachusetts site is based at Pfizer’s Research Technology Centre (RTC) and will focus on endocrine and cardiac research.

Pfizer Regenerative Medicine capabilities will be complemented by Pfizer’s vast resources including R&D scale and experience, a nimble and growing biotherapeutics organization, a growing network of alliances and collaborations and a vast array of drug discovery technologies, including tools and expertise developed during Pfizer’s 15 years of stem cell research.

About Pfizer

Founded in 1849, Pfizer is the world's largest research-based pharmaceutical company. Pfizer is taking new approaches to advancing better health as it discovers, develops, manufactures and delivers quality, safe and effective prescription medicines to treat and help prevent disease for both people and animals. Pfizer also partners with healthcare providers, governments and local communities around the world to expand access to medicines and to provide better quality health care and health system support. At Pfizer, more than 84,000 colleagues in more than 90 countries work every day to help people stay happier and healthier longer and to reduce the human and economic burden of disease worldwide. For more information visit www.pfizer.com.

DISCLOSURE NOTICE: The information contained in this release is as of November 14, 2008.Pfizer assumes no obligation to update forward-looking statements contained in this release as the result of new information or future events or developments.

This release contains forward-looking information about the potential for a new generation of regenerative medicines, including their possible benefits, that involves substantial risks and uncertainties.Such risks and uncertainties include, among other things, the uncertainties inherent in research and development; decisions by regulatory authorities regarding whether and when to approve drug applications that may be filed for any such regenerative medicines as well as their decisions regarding labeling and other matters that could affect the availability or commercial potential of any such regenerative medicines; and competitive developments.

A further description of risks and uncertainties can be found in Pfizer’s Annual Report on Form 10-K for the fiscal year ended December 31, 2007 and in its reports on Form 10-Q and Form 8-K.