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BUSINESS BRIEFING / BIOTECH

Pfizer launches stem cell unit

November 15, 2008|Times Wire Services

Pfizer Inc. said it had launched a biotechnology research unit focused on developing stem-cell-based treatments for a wide range of conditions.

The unit, called Pfizer Regenerative Medicine, will be located in two of the global hubs for biotech research -- Cambridge, England, and Cambridge, Mass.

New York-based Pfizer plans to invest about $100 million in the project over the next three to five years.

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