Pfizer discovers Phylogica
Monday, 20 December 2010
DRUG discovery librarian Phylogica has signed a collaboration and licensing deal with Pfizer.
The Perth-based company will draw on its proprietary Phylomer drug discovery platform to identify phylomer peptides suitable for further evaluation.
Under the agreement, Phylogica grants the pharma certain rights, including an option to license any resulting phylomers for further research, development and commercialisation of any novel peptide-based vaccines derived from those phylomers.
The deal has a $US500,000 ($A506,439) up-front payment attached.
Phylogica is also eligible for a commercial licence payment and preclinical, clinical and other milestone payments of up to $US134 million, plus royalties on worldwide sales.
In a statement released this morning Phylogica founder and chief executive Dr Paul Watt said the company was delighted to be working with Pfizer.
This alliance supports the potential utility of Phylogicas Phylomer drug discovery platform for peptide-based drug discovery, he said.
The collaboration is the third big pharma alliance for the company in 12 months.
Phylogica also has partnerships with Roche and AstraZeneca biologics unit MedImmune.
The companys shares were untraded at 6c by mid-morning.
http://www.biotechnologynews.net/StoryView.asp?StoryID=2336193
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