Pfizer Inc. and Washington University on Thursday announced a $25 million research collaboration aimed at better understanding immuno-inflammatory diseases such as arthritis and asthma.

Scientists at Pfizer’s research center in Chesterfield will work with peers at the university to answer basic questions about how the diseases occur and function. The goal is to discover new targets for drug development.

The five-year collaboration differs from other industry-sponsored research at the university because the two entities will share responsiblitiy for proposing, designing and carrying out projects, according to a statement issued by Washington University.

“We believe it will serve as a new paradigm for other academic-indusry collaborations, and we look forward to the vibrant discoveries and medical advances that the agreement encourages,” said Chancellor Mark Wrighton in the statement.