Phylogica to collaborate with Pfizer
To discover novel peptide-based vaccines
Australian drug discovery firm Phylogica has signed a collaboration and licensing deal with drug giant Pfizer to discover novel peptide-based vaccines.
Phylogica, which is based in Perth, will use its proprietary drug discovery platform to identify Phylomer peptides suitable for further evaluation.
Under the agreement, Phylogica will grant Pfizer certain rights, including an option to license any resulting Phylomers for further research, development and commercialisation of novel peptide-based vaccines derived from such Phylomers.
In return, Phylogica will receive an upfront payment of US$500,000 and will be eligible to receive a commercial license payment and preclinical, clinical and other milestone payments of up to US$134m. Phylogica will also earn royalties on any future drug sales.
Phylogica was formed in 2001 as a spin out from Perth’s Telethon Insitute for Child Health Research and the Fox Chase Cancer Center in Philadelphia, US.
‘This alliance supports the potential utility of Phylogica's Phylomer drug discovery platform for peptide-based drug discovery,’ said Phylogica’s chief executive Paul Watt.
‘With the present announcement, Phylogica has now entered into three alliances with global pharmaceutical companies within the last 12 months.’
