$5m milestone payment for Sosei Heptares from Pfizer as first patient is dosed in clinical trial
Sosei Heptares has received a $5million milestone payment from Pfizer after the dosing of the first subject in a clinical trial with a drug candidate developed in collaboration.
Granta Park-based Sosei Heptares entered the drug discovery arrangement with Pfizer in November 2015, aiming to develop new medicines directed at up to 10 G protein-coupled receptor (GPCR) targets across multiple therapeutic areas. Pfizer made a $33m equity investment in Sosei Heptares at that stage.
Dr Malcolm Weir, executive vice president, research and early development at Sosei Heptares, said: “The productivity of our collaboration with Pfizer has been gathering real momentum in 2019 based on the synergy of the expert teams within both organisations.
“We are excited with this latest milestone, which sees the first candidate from this collaboration enter clinical trials. This excellent progress is also reflected more broadly across our other internal and partnered programs where it demonstrates the power of our approach to deliver molecules targeting challenging GPCRs across multiple disease areas to partners.”
The latest milestone payment follows two others, of $3million each, in May and June 2019, after the nomination of new clinical candidates and entry into a first clinical trial.
Charlotte Allerton, head of medicine design at Pfizer, said: "We are pleased with the progress achieved through our collaboration with Sosei Heptares.
“Sosei Heptares’ GPCR-focused structure-based drug design provides us with a valuable approach to potentially enable the design of small molecules that may modulate important disease targets."