Pfizer and Theraclone agree new research alliance

Pfizer has entered into a new research and development collaboration with Theraclone that could be worth up to $632 million (397.3 million pounds).

The multi-year agreement will see the companies working to identify up to four target compounds using Theraclone's I-Star antibody discovery technology, which allows for the rapid isolation of monoclonal antibodies with exceptional biologic activity.

Two of the four possible compounds will be cancer therapies, while the remaining pair will be infectious disease treatments, with Pfizer retaining exclusive global rights to commercialise the products.

It will also be paying Theraclone up to $632 million in research funding and milestone payments based on the progress of the research, as well as taking responsibility for the compounds' preclinical and clinical development.

Jose-Carlos Gutierrez-Ramos, Pfizer's senior vice-president of worldwide biotherapeutics research and development, said: "Antibodies represent a very exciting class of biotherapeutics for Pfizer to combat infectious disease and are a proven approach to cancer treatment."

Earlier this month, Pfizer expanded its ongoing research collaboration with Santaris Pharma to encompass the use of new discovery technology in the field of RNA therapeutics.