Date: 2015-01-26
Type of information: Milestone
Compound: small molecules targeting ion channels
Company: Saniona (Denmark) Pfizer (USA - NY)
Therapeutic area: Neurological diseases
Type agreement: R&D development
Action mechanism:
Disease:
Details: * On February 26, 2014, Saniona, a leading biotech company in the field of ion channels, announced a drug discovery and development collaboration with Pfizer. The collaboration focuses on research of medicines to treat neurological disorders, using Saniona’s expertise in ion channels and related technology platforms. Under the terms of the agreement, Pfizer will receive exclusive worldwide rights to research, develop, manufacture and commercialize medicines identified through the collaboration.
Financial terms: Under the terms of the agreement, Saniona is eligible to receive milestone payments upon the achievement of certain research and development milestones as well as royalties on any potential products developed and commercialized by Pfizer as a result of this collaboration. The total potential value of the pre-commercial milestone payments is up to $52 million.
Latest news: * On January 26, 2015, Saniona announced that it shall receive a milestone payment of $ 0.75 million in relation to achievement of a specific research milestone under its drug discovery and development collaboration with Pfizer. Under the terms of the agreement, Saniona is eligible to receive additional milestone payments upon the achievement of additional research and development milestones as well as royalties on any potential products developed and commercialized by Pfizer as a result of this collaboration. The total potential value of the upfront and research and development milestone payments is up to $ 51.75 million of which Saniona, following the payment of $ 0.75 million, has received $ 2.25 million.
