Pfizer (NSE: PFIZER), a leading US pharmaceutical company, has entered into a strategic partnership and licensing agreement with Massachusetts-based biotech firm TRIANA Biomedicines. The collaboration aims to develop innovative molecular glue degraders targeting a variety of diseases, with a focus on oncology, according to a press release from TRIANA.
Under the terms of the agreement, TRIANA will receive an upfront payment of USD 49 million and is potentially eligible for milestone payments exceeding USD 1.5 billion, in addition to tiered royalties. TRIANA will take the lead in discovering and identifying potential development candidates, while Pfizer will have the exclusive option to secure an exclusive license for further preclinical and clinical development.
This strategic move builds on TRIANA’s previous success in closing a USD 110 million Series A financing round in 2022, which saw support from investors including Pfizer. The partnership signifies Pfizer’s commitment to expanding its pipeline with cutting-edge therapeutics and underscores TRIANA’s potential to contribute to the development of novel treatments in oncology and other disease areas.- Flcube.com
