It is still a major validation for Benitec's technology platform, though, as the compound has been developed from "expressed" ddRNAi intellectual property licensed from Benitec.
Benitec chief executive Sue MacLeman told BTN that it was great news for the company, as it builds on the therapeutic licence the company had granted to Tacere in 2006, and a research and use licence agreement with Pfizer that the company had agreed to early in 2007.
"So Pfizer has now licensed this product from Tacere. The significance of this arrangement for Benitec is that Pfizer, the biggest pharmaceutical company in the word, is licensing a drug candidate based on Benitec's intellectual property. And you can be sure that they've done their due diligence around everything," she said.
While Benitec has an equity stake in Tacere of around 5% and will receive milestone and licensing payments from the US company, MacLeman said the main benefit to Benitec is in the technology validation the agreement gives the Australian company.
"This is the first expressed RNAi drug to be partnered with a major pharmaceutical company and it is a resounding commercial validation of Benitec's technology," she said.
"From our perspective this deal is an absolute validation of the expressed approach and this is simply great news."
BLT Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
