Pfizer Inc and TransTech Pharma, Inc. entered into a license agreement for the development and commercialization of small and large molecule compounds under development by TransTech. These compounds target the receptor for advanced glycation end products (RAGE) and have potential use in the treatment of Alzheimer's disease, a progressive illness that kills nerve cells in the brain afflicting some 18 million people
worldwide.
Through the collaboration, Pfizer gains exclusive worldwide rights to develop and commercialize TransTech's portfolio of RAGE modulators. The most advanced molecules are: TTP488, an orally available small-molecule compound that has completed a phase 2a study in Alzheimer's patients and is currently in a phase 2 study in patients with diabetic nephropathy; and TTP4000, a large-molecule compound that is expected to enter Phase 1 clinical trials before the end of 2006.
Under the agreement, TransTech will receive upfront and near-term milestone payments of $ 155 million and the potential for significant additional milestone payments for the successful development and commercialization of multiple RAGE antagonists in several indications. TransTech will also receive royalties on worldwide sales of products. Pfizer will provide TransTech additional funding during the research term to support continued expansion of the RAGE portfolio. The agreement is subject to clearance by the US Federal Trade Commission.
"This agreement is an important step in Pfizer's commitment to neurosciences research and the development of new medicines for patients whose lives are impacted by Alzheimer's disease and other disorders," said Martin Mackay, PhD, Pfizer senior vice president Worldwide Research and Technology. "As a world leader in Alzheimer's disease therapy, we understand the need for new treatment options for this debilitating disease which takes an enormous toll on our aging and elderly population."
"Our collaboration with TransTech advances our strategy to build upon Pfizer's broad internal research programs with high-potential, externally sourced product candidates and technologies. With this agreement, we have now signed 10 major deals for new products and technologies in a number of therapeutic areas in the last year and our goal is to accelerate this activity by quickly seizing on new opportunities," added Mackay.
"We are extremely pleased and excited to be partnering our RAGE platform with Pfizer," said Adnan M. Mjalli, PhD, Founder, president and chief executive officer of TransTech Pharma. "We believe this transaction has the potential to be among the largest of its kind in recent years. Pfizer's deep commitment in multiple therapeutic areas coupled with their broad expertise and experience in the development and commercialization of new medicines, especially for the treatment of central nervous system diseases, were significant factors in our decision to go with Pfizer as the partner of choice to advance our current portfolio of RAGE inhibitors in a variety of potential indications."
TransTech Pharma, Inc. is a majority-owned affiliate of MacAndrews and Forbes Holdings Inc., whose sole shareholder is Ronald O. Perelman.