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Home Industry News Pfizer and Scil collaborate on cartilage growth factor

Pfizer and Scil collaborate on cartilage growth factor

16th January 2008

Pfizer and Scil Technology have signed a licensing agreement for the worldwide collaboration of Scil’s cartilage specific growth factor CD-RAP.

The agreement sees Pfizer receive a worldwide exclusive licence to develop and commercialise CD-RAP.

Scil will receive royalties on the sale of any products that are commercialised as a result of the agreement, as well as being eligible for upfront and milestone payments of around $250 million (127 million pounds) subject to achievement.

Dr Edmund Harrigan, senior vice-president of worldwide business development at Pfizer, stated that the company was looking forward to working with Scil and combining expertise and resources to develop valuable new treatment options for patients with osteoarthritis.

“This partnership reflects Pfizer’s ongoing commitment to pursue the best science anywhere on the globe and secure novel technologies and products that will complement our existing research programs,” he added.

Scil’s managing director Weishui Weiser highlighted that the licence agreement increased the company’s value and would help it achieve its objective to improve the quality of patients’ lives.

Also this week, Pfizer announced that it has returned a worldwide licence for the inhaled insulin drug Exubera following lower than expected demand for the treatment.

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