Pfizer expands alliance with Santaris Pharma
Pfizer to make payment of US$14m for access to Locked Nucleic Acid (LNA) drug platform
Pfizer and Danish biopharmaceutical firm Santaris Pharma have expanded their collaboration to develop and commercialise RNA-targeted medicines using Santaris’ Locked Nucleic Acid (LNA) drug platform.
Under the terms of the agreement, Pfizer will make a payment of US$14m to Santaris Pharma. The firm is also eligible to receive milestone payments of up to US$600m as well as royalties on sales of products that may be developed for up to 10 new RNA targets selected by Pfizer.
The newly expanded alliance builds on the original collaboration formed in January 2009 between Santaris and Wyeth, which was acquired by Pfizer. Under the terms of the original collaboration, Santaris received an upfront payment of $7m in cash and Wyeth made a $10m equity investment in Santaris. Santaris continues to be eligible to receive milestones and royalties under the original alliance.
The Santaris LNA drug platform is said to be the only RNA technology with both mRNA and microRNA targeted drugs in clinical trials.
‘The LNA drug platform is well positioned to deliver viable drug candidates today, and we are excited to expand our relationship with Pfizer to pursue our goal of making RNA-targeted drugs for important diseases a reality,’ said Soeren Tulstrup, president and ceo of Santaris.
