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Home Industry News Pfizer and Taisho sign letter of intent for schizophrenia drug

Pfizer and Taisho sign letter of intent for schizophrenia drug

31st October 2007

Taisho Pharmaceuticals and Pfizer have signed a letter of intent regarding Taisho’s new schizophrenia drug candidate TS-032.

The letter is the first step to a proposed licence agreement regarding the rights for development and commercialisation of the substance outside Japan.

Under the proposed licence agreement, Pfizer would receive exclusive development and commercialisation rights for the substance out of Japan.

TS-032, currently in its pre-clinical stage, would bring Taisho an initial payment of $22 million (10.7 million pounds) from Pfizer if the licence agreement is signed.

Taisho would also receive milestone payments tied to the progress and development of the drug candidate as well as royalties tied to the sales of TS-032 if it is approved by regulatory authorities.

TS-032 is an mGluR (metabotropic glutamate receptor) agonist which is hoped to offer new treatment options for central nervous system disorders.

Abnormalities in neurotransmission through mGluR have been suggested as a cause for the symptoms related to schizophrenia.

In other news, Pfizer has announced that it intends to appeal the decision of a German court published this week regarding its patent of the active ingredient in its cholesterol-lowering drug, Lipitor.

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