Gene Logic Enters Agreement with Pfizer to Reposition Significant Number of Drug Candidates
Gene Logic Inc. announced that it has entered into an agreement with Pfizer Inc. to seek new therapeutic indications for a significant number of unapproved drug candidates that are not currently in active development. The drug candidates originated from across Pfizer's portfolio of therapeutic areas. Similar to development stage in-licensing deals, the terms of the agreement provide for success-based milestones per compound and royalties on the commercialization of drugs repositioned through Gene Logic's Drug Repositioning Program. Full terms of the agreement were not disclosed.
Gene Logic's Drug Repositioning Program seeks to restore stalled drug candidates back into its partners' clinical development pipelines. Applying a platform of diverse technologies in parallel, Gene Logic's program evaluates drug candidates for potential utility across a wide spectrum of disease indications. This platform represents the integration of technologies acquired from Millennium Pharmaceuticals Inc. in 2004 with Gene Logic's premiere capabilities in genomics and in silico biology. Gene Logic can complete initial repositioning testing and analysis in less than a year, potentially returning drug candidates expediently to clinical testing.
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