Published on September 11, 2012 at 8:38 AM
Visterra Inc., developer of novel therapeutics to treat major diseases,
announced today that it has entered into a collaboration agreement with
Pfizer to discover novel antibodies using Visterra's proprietary
platform.
Under the terms of the agreement, Visterra will receive an up-front fee
as well as research funding, and is eligible to receive predetermined
payments for meeting certain research and development milestones, plus
royalties upon any product commercialization.
"We are very pleased that our first pharmaceutical partnership is with
Pfizer, an industry leader with broad drug development expertise," said
Steven Brugger, CEO of Visterra. "This collaboration further supports
the potential utility of Visterra's antibody design platform, and we
look forward to collaborating with Pfizer while we continue to advance
Visterra's own internal product pipeline."
"We view Visterra's technology as a promising approach for engineering
therapeutic antibodies, and look forward to this collaboration" said
Jose-Carlos Gutierrez-Ramos, Senior Vice President, Research and
Development, Biotherapeutics with Pfizer.
Source: Visterra