Pfizer Inc and Organon, the human pharmaceutical business unit of Akzo Nobel, have entered into a global agreement for the exclusive worldwide development and commercialization of Organon's asenapine, a potential new psychotropic medication for the treatment of a variety of disorders that is beginning Phase III trials in schizophrenia and bipolar disorder.

Under terms of the agreement, which is subject to government approval, the companies will collaborate on the clinical development and manufacturing of asenapine, and co-promote the product in the United States, European Union, Japan and other markets. Pfizer will make an initial payment of $100 million and up to $270 million in milestone payments contingent upon regulatory approvals and launch of asenapine in the U.S., Europe and Japan as well as attainment of certain agreed-upon sales levels. Further terms of the agreement were not disclosed.

"Organon is excited about its partnership with Pfizer to develop and market asenapine. Phase II clinical trials with asenapine have shown promising results which could assist patients in treating their psychoses," said Michael Novinski, Organon International Board Member and President of Organon USA. "We believe this collaboration will provide the appropriate development and commercial resources necessary to serve the patient population who may benefit from this treatment," said Toon Wilderbeek, Member of the Akzo Nobel Board of Management.

Asenapine is a 5HT2/D2 antagonist that belongs to a class of medicines known as atypical antipsychotics. These drugs act on both the 5HT2 and D2 receptors and show superior tolerability and efficacy compared to older antipsychotic medications that act mainly on D2 receptors. In early clinical studies, asenapine was well-tolerated and showed statistically superior efficacy when compared with placebo.

Akzo Nobel's human healthcare unit Organon, headquartered in Roseland, NJ USA, is a renowned pharmaceutical company with a strong commitment to human health care. The company develops and produces innovative prescription medicines for gynecology, psychiatry, cardiovascular diseases, immunology and anesthesia. Organon products are sold in over 100 countries, more than half of which have an Organon subsidiary. The company currently employs approximately 13,000 people.