Pfizer Inc. has selected a development candidate in its collaboration with NicOx, which is focused on novel nitric oxide-donating compounds in ophthalmology. Accordingly, Pfizer has exercised its option to acquire an exclusive worldwide license to the proprietary NicOx compounds covered by the agreement. NicOx will receive a Euro 2 million payment from Pfizer.

Michele Garufi, chairman and CEO of NicOx said, "We are delighted that our joint research collaboration with Pfizer has resulted in the successful identification of a lead candidate for development in only 15 months. This is a significant achievement given the very high rate of attrition for compounds in research and demonstrates our technology's ability to generate robust drug candidates."

Pfizer and NicOx were jointly responsible for this research project, in which a number of nitric oxide-donating compounds were synthesised and submitted to an extensive series of preclinical tests. Several compounds successfully fulfilled a number of key criteria and demonstrated superior activity, compared to reference compounds, in established in vivo eye disease models. Pfizer has selected a candidate for development and will fund and be responsible for all future work on this compound, states a company release.

The research, option, development and licensing agreement between Pfizer and NicOx was signed in August 2004 and granted Pfizer an option to acquire a worldwide license to the nitric oxide-donating compounds under study, with exclusive development and commercialisation rights. Including the payment, NicOx will have received Euro 4 million from Pfizer in connection with this agreement and stands to receive a further Euro 33 million, plus royalties, if the collaboration results in the successful commercial development of a product.

NicOx is an emerging pharmaceutical company involved in the research and development of nitric oxide-donating drugs with superior efficacy and safety profiles in the inflammation, pain and cardiovascular therapeutic areas.