Phylogica Signs Collaboration and Licensing Deal with Pfizer
Under the agreement, Phylogica grants Pfizer certain rights, including an option to license any resulting Phylomers for further research, development and commercialisation of novel peptide-based vaccines derived from such Phylomers. Under the terms of the agreement, Phylogica will receive an upfront payment of US$500,000. In addition, Phylogica is eligible to receive a commercial license payment and is also eligible to receive preclinical, clinical and other milestone payments of up to US$134 million, as well as royalties on worldwide sales.
Dr Paul Watt, the founder and CEO of Phylogica said: “We are delighted to be working with Pfizer. This alliance supports the potential utility of Phylogica’s Phylomer drug discovery platform for peptide-based drug discovery. With the present announcement, Phylogica has now entered into three alliances with global pharmaceutical companies within the last 12 months.”
Other news from the department business & finance
Get the life science industry in your inbox
From now on, don't miss a thing: Our newsletter for biotechnology, pharma and life sciences brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.