About TransTech Pharma
TransTech Pharma, Inc. is a majority-owned affiliate of MacAndrews &
Forbes Holdings Inc., whose sole shareholder is Ronald O. Perelman.
TransTech Pharma is a privately held clinical-stage pharmaceutical company
focused on the discovery, development, and commercialization of human
therapeutics to fill unmet medical needs. The Company's high-throughput drug
discovery platform, Translational Technology(R), translates the functional
modulation of human proteins into safe and effective medicines. TransTech has
a pipeline of small molecule clinical and pre-clinical drug candidates for the
treatment of a wide range of human diseases, including cardiovascular
disorders, central nervous system disorders, type I/II diabetes, obesity and
cancer. For further company information, visit ttpharma.com.
Pfizer and TransTech Pharma Enter Into Agreement for the Development and Commercialization of Rage Modulators
prnews
Agreement Strengthens Pfizer's Neuroscience Research Commitment With Focus on Potential Treatments for Alzheimer's Disease
NEW YORK and HIGH POINT, N.C., Sept. 18 /PRNewswire-FirstCall/ -- Pfizer
Inc (NYSE: PFE) and TransTech Pharma, Inc. announced today that they have
entered into a license agreement for the development and commercialization of
small and large molecule compounds under development by TransTech. These
compounds target the receptor for advanced glycation end products (RAGE) and
have potential use in the treatment of Alzheimer's disease, a progressive
illness that kills nerve cells in the brain afflicting some 18 million people
worldwide.
Through the collaboration, Pfizer gains exclusive worldwide rights to
develop and commercialize TransTech's portfolio of RAGE modulators. The most
advanced molecules are: TTP488, an orally available small-molecule compound
that has completed a Phase 2a study in Alzheimer's patients and is currently
in a Phase 2 study in patients with diabetic nephropathy; and TTP4000, a
large-molecule compound that is expected to enter Phase 1 clinical trials
before the end of 2006.
Under the agreement, TransTech will receive upfront and near-term
milestone payments of $155 million and the potential for significant
additional milestone payments for the successful development and
commercialization of multiple RAGE antagonists in several indications.
TransTech will also receive royalties on worldwide sales of products. Pfizer
will provide TransTech additional funding during the research term to support
continued expansion of the RAGE portfolio. The agreement is subject to
clearance by the U.S. Federal Trade Commission.
"This agreement is an important step in Pfizer's commitment to
neurosciences research and the development of new medicines for patients whose
lives are impacted by Alzheimer's disease and other disorders," said Martin
Mackay, Ph.D., Pfizer senior vice president Worldwide Research and Technology.
"As a world leader in Alzheimer's disease therapy, we understand the need for
new treatment options for this debilitating disease which takes an enormous
toll on our aging and elderly population."
"Our collaboration with TransTech advances our strategy to build upon
Pfizer's broad internal research programs with high-potential, externally
sourced product candidates and technologies. With this agreement, we have now
signed 10 major deals for new products and technologies in a number of
therapeutic areas in the last year and our goal is to accelerate this activity
by quickly seizing on new opportunities," added Mackay.
"We are extremely pleased and excited to be partnering our RAGE platform
with Pfizer," said Adnan M. Mjalli, Ph.D., Founder, president and chief
executive officer of TransTech Pharma. "We believe this transaction has the
potential to be among the largest of its kind in recent years. Pfizer's deep
commitment in multiple therapeutic areas coupled with their broad expertise
and experience in the development and commercialization of new medicines,
especially for the treatment of central nervous system diseases, were
significant factors in our decision to go with Pfizer as the partner of choice
to advance our current portfolio of RAGE inhibitors in a variety of potential
indications."
TransTech Pharma, Inc. is a majority-owned affiliate of MacAndrews &
Forbes Holdings Inc., whose sole shareholder is Ronald O. Perelman.
About RAGE
The receptor for advanced glycation end products (RAGE) is a member of the
immunoglobulin super family of cell surface molecules with a variety of
ligands that are associated with different diseases. Ligands of RAGE and
their associated diseases include:
-- amyloid fibrils - Alzheimer's disease;
-- advanced glycation end products (AGEs) - diabetes and renal
insufficiency;
-- amphoterin - tumors;
-- S100/calgranulins - inflammation.
Pfizer Inc: Working for a healthier world(TM)
Founded in 1849, Pfizer is the world's largest research-based
pharmaceutical company taking new approaches to better health. We discover
and develop innovative medicines to treat and help prevent disease for both
people and animals. Through consistent, high-quality manufacturing and
distribution operations, our medicines reach patients in 180 nations. We also
partner with healthcare providers, governments and local communities around
the world to expand access to our medicines and to provide better quality
healthcare and health system support. At Pfizer, our colleagues work every
day to help people stay happier and healthier longer and to reduce the human
and economic burden of disease worldwide. |
