Biovista announced today that it has entered into a pilot research collaboration agreement with Pfizer (Pfizer Inc. (NYSE: PFE). The aim of the collaboration is to identify new indications for a number of undisclosed Pfizer development candidates, using Biovista's Clinical Outcome Search Space (COSS) technology.
Under the terms of the agreement, Biovista will collaborate with Pfizer's Indications Discovery Unit to identify up to three novel indications for each of the Pfizer candidates. The terms of the agreement include an upfront payment and success-based milestones.
"We seek to benefit from the collaboration with Biovista and their COSS technology to expand uses for our drugs and to help accelerate our clinical programs," said Don Frail, chief scientific officer of Pfizer's Indications Discovery Unit.
"Pfizer is an industry leader in terms of its drug repositioning efforts, supporting the vision that every drug may have potential beyond its initially developed uses," said Aris Persidis, President of Biovista. "Working with Pfizer on potential new indications may benefit expanded sets of patients with unmet medical needs, and is an opportunity to demonstrate the value of Biovista's COSS(TM) technology within the drug development workflow of bio-pharmaceutical companies," he added.
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