BASEL, Switzerland, Oct. 28 /PRNewswire/ -- The Novartis Research Foundation today announced the appointment of Peter G. Schultz as Head of the Novartis Institute for Functional Genomics, one of the largest research institutes devoted entirely to functional genomics. Widely recognized for his pioneering work at the interface of chemistry and biology, Peter Schultz brings to Novartis more than 15 years of experience in the fields of organic chemistry and biomedical research. Peter Schultz has received numerous awards including the Alan T. Waterman Award, NSF (1988), the ACS Award in Pure Chemistry (1990), and the Wolf Prize in Chemistry (1994); he is a member of the National Academy of Sciences and Institute of Medicine of the National Academy of Sciences. Dr. Schultz will join Novartis on January 1, 1999 from the University of California, Berkeley, where he is currently Professor of Chemistry and Investigator, Howard Hughes Medical Institute. "By bringing together a group of highly creative chemists, biologists and engineers, and equipping them with powerful new genomic and chemical technologies, the institute will be a world-class leader in biomedical research," noted Dr. Schultz. Among Schultz' many accomplishments, his research team (simultaneously with Richard Lerner and coworkers) first reported the observation that antibodies could selectively catalyze chemical reactions. He has played a key role in developing and applying combinatorial methods to problems in chemistry and biology. "Novartis is deeply committed to genomics research. Dr. Schultz is a preeminent scientist, and under his direction, the institute will build a powerful technology platform and attract the finest researchers," stated Dr. Paul Herrling, worldwide Head of Discovery at Novartis Pharma. The formation of the Institute for Functional Genomics was announced in April 1998. It will receive a total investment of USD 250 million in funding over 10 years, and will be adjacent to the planned Novartis Agricultural Discovery Institute and Scripps Research Institute in La Jolla, California. Novartis is a world leader in Life Sciences with core businesses in Healthcare, Agribusiness and Consumer Health (Self-Medication and Nutrition). In 1997, Novartis Group sales were 31.2 billion Swiss francs (USD 21.6 billion), of which 17.0 billion (USD 11.7 billion), were in Healthcare, 8.3 billion (USD 5.8 billion) in Agribusiness and 5.9 billion (USD 4.1 billion) in Consumer Health. The group annually invests more than 3.6 billion Swiss francs (USD 2.5 billion) in R&D. Headquartered in Basel, Switzerland, Novartis employs about 86,000 people and operates in over 100 countries around the world. For more information, contact Kate King for Novartis, 212-593-5823.
SOURCE Novartis Research Foundation