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Phylogica Ltd. And Pfizer Inc. (PFE) Sign Vaccines Deal Potentially Worth More than $134 Million
12/20/2010 8:27:05 AM
PERTH, AUSTRALIA - Phylogica Ltd (ASX:PYC), a public Australian drug discovery company, announced today that it has entered into a collaboration and licensing agreement with Pfizer to discover novel peptide-based vaccines. Phylogica will employ its proprietary Phylomer® drug discovery platform to identify Phylomer peptides suitable for further evaluation.
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.”
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