[Pfizer deal: second-generation antisense drugs for the treatment of ophthalmic disease]
>>CARLSBAD, Calif., May 24 /PRNewswire-FirstCall/ -- Isis Pharmaceuticals Inc. (Nasdaq: ISIS - News) has entered into a multi-year drug discovery collaboration with Pfizer Inc (NYSE: PFE - News) to identify second-generation antisense drugs for the treatment of ophthalmic disease. Under the terms of the agreement, Isis will receive a technology access fee of $1 million, research funding, and milestone payments. In addition, Isis will receive royalties on the sale of drugs resulting from the collaboration.
Using Isis' proprietary second-generation antisense platform, the companies will work together to identify antisense drugs against targets selected by Pfizer. Pfizer will be responsible for clinical development and commercialization of the antisense drugs. Pfizer may develop the antisense drugs identified in the collaboration for all human health indications.
"Isis has already shown that antisense drugs can be effective in treating ocular diseases, having discovered and developed Vitravene®. We are excited to contribute to Pfizer's leading ophthalmology program and at the same time work with a recognized expert to extend the technology beyond our primary therapeutic focus," said C. Frank Bennett, Isis' Vice President of Antisense Research.
"This new collaboration reflects our active strategy to work with recognized leaders such as Pfizer to broaden and deepen our antisense pipeline moving forward. Because the antisense technology platform that Isis has pioneered allows us to very rapidly discover highly selective drugs to almost any gene target, we are able not only to keep our own pipeline full, but also provide drug candidates to partners," added Dr. Bennett.<<
Apparently, Pfizer got wind of the Lucentis data a while ago, and was already looking elsewhere for something to replace Macugen. Isis stands to lose a bit due to its small royalty interest in Macugen, but more than makes up for it here. Interesting timing, to say the least.
Cheers, Tuck |
