27 June 2011: From the Press Release: http://www.wellcome.ac.uk/News/Media-office/Press-releases/2011/WTVM051897.htm
“The Howard Hughes Medical Institute, the Max Planck Society and the Wellcome Trust announced today that they are to support a new, top-tier, open access journal for biomedical and life sciences research.
The three organisations aim to establish a new journal that will attract and define the very best research publications from across these fields. All research published in the journal will make highly significant contributions that will extend the boundaries of scientific knowledge.
A team of highly regarded, experienced and actively practising scientists will ensure fair, swift and transparent editorial decisions followed by rapid online publication. The first issue of the journal, whose name has yet to be decided, is expected to be published in the summer of 2012.
The three research organisations developed their plans following a workshop in 2010 at HHMI’s Janelia Farm Research Campus attended by a number of leading scientists. The participants concluded that there was a need for a model of academic publishing that better suits the needs of the research community.
Dr Robert Tjian, President of the Howard Hughes Medical Institute, says: “The message from the research community was clear: we are fortunate to have many excellent journals, but there is need for a different, more appropriate and efficient publishing model.”