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Biotech / Medical : Biotech Valuation
CRSP 53.31-0.7%Jan 29 3:59 PM EST
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To: Biomaven who wrote (19430)3/23/2006 1:10:02 PM
From: Ian@SI  Read Replies (1) of 52153
 
interesting drug development story. Are you aware whether or not this is a novel approach? ... or are there other examples in the clinic today? thanks, Ian

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Noxxon Pharma, Pfizer, Collaborate On Spiegelmer Products

djones

Germany's Noxxon Pharma AG and Pfizer Inc. (PFE) Thursday entered into a multi-year agreement to work on the discovery and development of Spiegelmer products.

Pfizer, Cambridge, Mass., said the companies also entered into an exclusive worldwide license agreement regarding Noxxon's preclinical lead Spiegelmer for treating obesity.

According to Pfizer, Spiegelmers are mirror-image RNA molecules not found in nature that bind to the target molecule in a manner conceptually similar to antibodies.

Pfizer will make upfront cash payments and research and development milestone payments. Noxxon can receive royalties on the sale of products commercialized under these agreements. Pfizer will also make an equity investment in Noxxon.
Other financial terms weren't released.

Noxxon will use its Spiegelmer technology to create product candidates to disease-associated targets identified by Pfizer. Pfizer can select up to three targets per year to collaborate on with Noxxon.

Noxxon gave Pfizer an exclusive worldwide license to NOX-B11, which was shown to curb ghrelin-mediated appetite and caused weight loss in pre-clinical animal studies. Pfizer will be responsible for the worldwide development and commercialization of NOX-B11 and other future products developed under the
collaboration.
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