Pfizer today entered a deal with Incyte Corporation to research, manufacture and market Incyte's anti-inflammatory CCR2 antagonist drugs.
Under the agreement:
*Incyte will receive an upfront payment of $40 million and will be eligible to receive additional milestone payments of up to $743 million for the successful development and commercialization of CCR2 antagonists in multiple indications, as well as royalties on worldwide sales.
*Pfizer will gain exclusive worldwide development and commercialization rights to Incyte's portfolio of CCR2 antagonist compounds, the most advanced of which is currently in Phase IIa studies in rheumatoid arthritis and insulin-resistant obese patients.
*Pfizer will also provide research funding to Incyte to support the continued expansion of the CCR2 compound portfolio.
"This transaction is a further step in our strategy to augment Pfizer's internal research and development efforts with high-potential, externally sourced product candidates and technologies," said Martin Mackay, Pfizer senior vice president worldwide research and technology in a statement.
Paul Friedman, president and CEO of Incyte said, "Our CCR2 antagonist program has the potential to generate multiple products in a variety of major indications."