Sosei Group (OTCPK:SOLTF) announces that it has earned a $3M milestone payment from collaboration partner Pfizer (PFE +1.3%) triggered by certain deliverables by Sosei under their November 2015 agreement.
The companies are developing up to 10 candidates against G protein-coupled receptor (GPCR) nominated by PFE.
Sosei is eligible for additional milestones and tiered royalties on net sales of commercialized products. Pfizer also made a $33M equity investment in Sosei in 2015.
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