- Pfizer (NYSE:PFE) and Heptares Therapeutics (OTCPK:SOLTF) enter into a strategic drug discovery collaboration to research and develop potential new medicines directed at up to 10 G protein-coupled receptor (GPCR) targets across multiple therapeutic areas.
- Heptares will leverage its GPCR structure-guided platform to help deliver stabilized GPCRs (StaR proteins), high resolution crystal structures and other technologies to support the discovery of novel agents directed to the GPCR targets selected by Pfizer. Pfizer will be responsible for developing and commercializing the product candidates (small molecules or biologics derived from StaR antigens) for each target and will have exclusive rights to the agents.
- Under the terms of the agreement, Heptares will receive an undisclosed upfront payment, milestones of up to $189M per target and tiered royalties on commercial sales.
- In addition, Sosei (parent of Heptares) and Pfizer Seiyaku KK have entered into an equity agreement under which Pfizer KK will buy $33M of newly issued Sosei common stock at a 25% premium to the average closing price of Sosei common over the 20-day period prior to the closing date (sometime in December). The investment will represent a 3.02% stake in Sosei.