Merck and Pfizer have announced that they agreed to collaborate on the development of a combination drug for Type 2 diabetes. TUnder the terms of the agreement the companies will work together on combining Pfizer’s ertugliflozin and metformin drugs with Merck’s Januvia sitagliptin-containtaing tables. Pfizer’s ertugliflozin pill is currently in the Phase III testing stage, with trials expected to begin later this year. Merck will continue to retain the rights to its existing portfolio of sitagliptin-containing products. Under the agreement Pfizer has received an upfront payment of $60 million and will be eligible for additional payments based on the achievement of future clinical, regulatory and commercial milestones. Merck and Pfizer will share revenues and certain costs on a 60/40 basis.
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BIND Therapeutics, a biopharmaceutical company developing a class of selective targeted and programmable therapeutics called Accurins, has announced that it has entered into a global collaboration agreement with Pfizer to develop and commercialize Accurins utilizing select small molecule targeted therapies. The collaboration aims to employ BIND’s Medicinal Nanoengineering platform to impart tissue and cellular targeting capabilities to molecularly targeted drugs.
Under the terms of the agreement, Pfizer will have the exclusive option to pursue development and commercialization of the Accurins selected by its team. Both companies will work together on preclinical research, and if Pfizer exercises its option, Pfizer will have responsibility for development and commercialization of the selected Accurins. BIND could receive up-front and development milestone payments totaling approximately $50 million and approximately $160 million in regulatory and sales milestone payments for each Accurin commercialized as well as tiered royalties on potential future sales.
Dako, a subsidiary of Agilent, has announced it has entered into a collaboration agreement with Pfizer in the field of companion diagnostics. The agreement constitutes a legal framework for various collaboration projects between the two companies, covering research, development and commercialization as well as advisory services. Financial terms of the agreement were not disclosed.
OxOnc Development has announced that it has entered into a co-development agreement with Pfizer to conduct a pivotal clinical trial of Pfizer’s crizotinib, marketed under the trademark Xalkori, for the treatment of patients with advanced non-small cell lung cancer. The trial will be conducted at sites in Japan, China, Taiwan and South Korea. Under the terms of the agreement, OxOnc will provide funding and supervision for the trial, with the goal of generating the clinical data necessary for Pfizer to submit crizotinib for review by regulatory authorities in the Asian region. If approved for this indication, OxOnc will be eligible to receive milestone payments from Pfizer. Additional terms were not disclosed.
Nuron Biotech has announced the closing of an $80 million financing round including a $30 million equity investment and a $50 million royalty agreement tied to future sales of the company’s portfolio of drugs. The proceeds will support the commercialization and expansion of Meningitec, recently acquired from Pfizer. Meningitec is commercial vaccine for the prevention of invasive disease caused by Neisseria meningitidis serogroup C. The proceeds will also be used to support the clinical development of the company’s biologics and vaccines for infectious and neurodegenerative diseases.
Flexion Therapeutics has announced that it has secured $20 million in a Series B financing round led by new investor, Novo Ventures. Flexion’s existing investors, 5AM Ventures, Pfizer Venture Investments, Sofinnova Partners and Versant Ventures also participated in the financing. Proceeds will be used to fund late stage clinical development of the company’s portfolio of intra-articular, sustained release therapies for the treatment of osteoarthritis.
AstraZeneca and Pfizer have announced that they will team with the government of Quebec to create the Neomed Institute, a new life sciences research facility in Montreal that will host researchers, university officials and employees from the drug makers as well venture capitalists. The three partners are reported to be spending $100 million on the venture, with the largest portion of the financing and the land contributed by AstraZeneca.
Ziarco, a start-up founded by ex-employees of Pfizer in Sandwich, has announced the closing of an initial $6 million tranche of Series A financing totalling $27 million. The round was led by Biotechnology Value Fund, with participation by Pfizer Venture Investments. Concurrent with the financing, Ziarco has entered into an agreement with Pfizer for the exclusive worldwide rights to commercialize a portfolio of clinical, preclinical and research anti-inflammatory and anti-allergic assets. In return, Pfizer will receive equity, product-based milestone and royalty payments.
Portola Pharmaceuticals, Bristol-Myers Squibb and Pfizer sign agreement to conduct proof-of-concept study of PRT4445
Portola Pharmaceuticals, Bristol-Myers Squibb and Pfizer have announced a clinical collaboration agreement to conduct a proof-of-concept study of PRT4445 and the investigational oral Factor Xa inhibitor ELIQUIS (apixaban). The collaboration will be in effect during the clinical proof-of-concept study, which is expected to start by the end of this year. The study is designed to demonstrate the safety of PRT4445 and its ability to reverse the anticoagulation activity of ELIQUIS and other Factor Xa inhibitors, including betrixaban, Portola’s Phase 3 oral Factor Xa inhibitor. Bristol-Myers Squibb and Pfizer will make an undisclosed cash payment to Portola upon initiation of the proof-of-concept study with ELIQUIS and will provide development and regulatory guidance for the study. Portola retains 100 percent global development and commercialization rights for PRT4445.
Shionogi has announced that it has agreed to hand over the marketing rights for AIDS drugs it is developing via a joint venture with ViiV to ViiV in return for a 10% stake in the company and a royalty on sales of the drugs. The joint venture venture, Shionogi-ViiV Healthcare LLC, is developing the drug dolutegravir and other compounds that block the action of a key enzyme of HIV, the virus that causes AIDS. GlaxoSmithKline and Pfizer currently have equity stakes in ViiV Healthcare.