Syros Pharmaceuticals Inc., (NASDAQ: SYRS) has disclosed in an SEC filing that Pfizer (NYSE: PFE) has decided to terminate a partnership previously established between Syros and Global Blood Therapeutics Inc., (GBT). Pfizer’s decision came after it acquired GBT for USD 5.4 billion in October 2022, taking over the existing deal.
Details of the Partnership and Its Termination
Under the initial agreement, GBT had paid Syros USD 20 million upfront and had committed to potential options and milestone payments of up to USD 315 million. In return, Syros was to apply its gene control platform to identify therapeutic targets for the treatment of sickle cell disease (SCD) and beta thalassemia. GBT was granted first-refusal rights on a worldwide license for any drug candidates emerging from this research.
Syros Seeks New Partner for SCD Program
Pfizer informed Syros in July that it would not be continuing the partnership. As a result, Syros is now actively seeking a new partner for its SCD program. The termination of the partnership is a significant development for Syros, which must now find alternative support for its research into SCD treatments.
Pfizer’s Control of SCD Drug Candidates
Pfizer’s acquisition of GBT has expanded its control over three SCD drug candidates, including Oxbryta (voxelotor), which received approval from the US FDA in 2019. This acquisition has positioned Pfizer as a key player in the development of treatments for SCD, while Syros must now navigate its SCD program without the support of a major pharmaceutical partner.-Fineline Info & Tech
