The pharmaceutical industry is developing new models for drug development based on collaborative efforts and precompetitive research. In order to facilitate the implementation of these new approaches to drug innovation across Europe, the European Union and EFPIA (the European Federation of the Pharmaceutical Industries and Associations) launched the Innovative Medicines Initiative (IMI) in 2008. With a total budget of €2 billion, IMI is the largest public-private partnership (PPP) in life

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... es research and development (R&D). To fulfil its mission, IMI implements R&D programmes focused on the development of new tools and methods for the prediction of drug safety or efficacy and more efficient knowledge management. Furthermore, IMI supports education and training projects on the same topics. IMI-sponsored activities are conducted by consortia gathering together pharmaceutical companies, small and medium-sized enterprises (SMEs) and partners from the public sector. EFPIA pharmaceutical companies invest in the form of 'in kind' contributions, while the European Commission provides funding to other consortium members including academic teams, SMEs, patients' organisations, regulatory agencies and other not-for-profit institutions. On the basis of the first achievements of the 23 IMI projects which are currently up and running, we will discuss how precompetitive pharmaceutical research can contribute to shape the future of medicine.