Pfizer to collaborate with FivePrime

A worldwide collaboration and licence agreement has been agreed by Pfizer and FivePrime Therapeutics, the companies have announced.

Their collaboration will focus on treatments for diabetes and cancers, including the discovery of antibody targets and novel therapeutic protein products.

FivePrime will screen its protein library in cell-based assays and primary in vivo screens with the aim of discovering potential therapeutic protein products and antibody targets.

The company will receive and upfront payment from Pfizer as well as an equity investment and three years of research funding.

In return Pfizer will have exclusive worldwide rights to develop and commercialise particular products and targets discovered during the research term in exchange for future milestones and royalties.

FivePrime’s founder and executive chairman Lewis T Williams said: “This combination will increase the likelihood and speed of discovering and developing new biotherapeutics for patients in need.”

Mr Williams founded FivePrime in 2002 to collect and screen the entire human secretome, which is the definitive set of proteins from which all biotherapeutics are derived.