Pfizer signs diabetes and cancer partnership with biotech
pharmafile | May 21, 2008 | News story | Research and Development |Â Â Â
Pfizer has announced an alliance with US biotech Five Prime Therapeutics, in a move to boost its pipeline and become a global leader in biotherapeutics.
The collaboration will focus on the discovery of biotech treatments for both diabetes and cancer, coinciding with Pfizer's wider plan to grow its presence in oncology.
The partnership will focus on proteins already in development by Five Prime, which will "fill a core need" for Pfizer, according to professor Corey Goodman, president of the larger company's Biotherapeutics and Bioinnovation Center.
He added: "Our mission is to gain access to the best internal and external science and to achieve Pfizer's corporate ambition of becoming a global leader in biotherapeutics."
Five Prime is located in San Francisco and its most advance programmes are in oncology, with a lead therapy expected to enter clinical trials later this year.
The collaboration with Pfizer will focus on the discovery of antibody targets and novel therapeutic protein products to treat certain areas of cancer and diabetes.
Five Prime will screen its protein library with the object of finding potential therapeutic protein products and antibody targets.
The smaller firm will receive an upfront payment, investment for future milestones, and three years of research funding from Pfizer, who gain exclusive rights to develop and commercialise any products discovered in this period.
It follows the recent move from Pfizer to create a new oncology business unit, in order to better understand the needs of the market, and shows the determination of the company to boost its pipeline in the area.
