PTC Therapeutics, Inc. (PTC, 705606) has entered into an exclusive research collaboration and licensing agreement with Pfizer Inc. (NYSE:PFE) for the development of pharmaceuticals through the application of PTC's GEMS (Gene Expression Modulation by Small-Molecules) technology.
The terms of agreement include:
- Pfizer has made an initial upfront payment of $10M, will purchase an equity stake of $10M subject to certain closing conditions, and provide supportive funding for PTC's research efforts.
- At Pfizer's option, the collaboration may include up to 10 targets and PTC could earn up to $121M in milestones per target based on the achievement of certain development, regulatory, and commercial goals.
- Pfizer will receive exclusive worldwide rights and pay PTC royalties on worldwide net sales of any products resulting from this collaboration.
PTC is a biopharmaceutical company focused on the discovery and development of orally administered, proprietary small-molecule drugs that target post-transcriptional control processes.
[Post-transcriptional control processes regulate the rate and timing of protein production and are of central importance to proper cellular function.]
Find more details from the PTC press release.
Comment Preview