“IBD is a pretty significant condition and encompasses several different subsets of conditions, many of which are very serious,” says Dr. Gil Van Bokkelen, chairman and CEO of Athersys. “There are small-molecule drugs in use clinically to try to control the symptoms and severity of these diseases, and some biologic agents are being used as kind of a second-line therapy to treat people who have become resistant to those drugs. Many patients also undergo surgery to remove damaged and affected areas, but that doesn’t acknowledge the origin of their condition. In many instances, the disease comes back later and affects other parts of the bowel. We believe there is more opportunity to effectively control the underlying causes of disease, not just the symptoms of disease.” MultiStem is also in development by Athersys for several other conditions, including acute myocardial infarction, bone marrow transplant support and ischemic stroke, notes Van Bokkelen.  

 

“I think Pfizer sees this agreement as an important cornerstone of what it wants to do in the stem cell and regenerative medicine field,” he says. “I don’t want to speak for Pfizer, but I do think it is fair to say that their interest in this area extends well beyond the boundaries of what we have started, and their interest in regenerative medicine is very broad.”  

 

Athersys’ stated commitment to bringing safer and more effective drugs to market also likely made it an attractive partner for Pfizer, as Big Pharma companies find themselves under intense scrutiny for drug safety and efficacy, Van Bokkelen adds.  

 

“We have similarly high standards for what we need to see in our safety and efficacy profiles,” he says. “Our commitment is to develop best-in-class products. Pfizer, in many instances, may not have been first to market on some key drugs, but their drugs were developed with a better safety and efficacy profile. We don’t care as much about being first as bringing the safest and most effective drugs to market. We think that is something that is very appealing to a large pharma like Pfizer because they see we are not taking shortcuts—something you don’t always see in smaller sized organizations.”  

 

Pfizer also announced an antibody discovery collaboration with Adimab Inc. of Lebanon, N.H., and a strategic alliance with Ensemble Discovery of Cambridge, Mass., to “discover and develop drug candidates of a novel class against a number of high-value pharmaceutical targets.”  

 

Of course, the Wyeth merger and subsequent restructuring involve something less positive for the research community. In early January, Pfizer announced it will cut about 1,200 jobs, while Merck will eliminate 500 positions. Pfizer said the layoffs were part of the combined 20,000 jobs cuts both companies disclosed they would make when the merger closed.

 

Despite widespread fear and uncertainty in the research community, the stocks of both companies have suffered little in the midst of this news. Following the announcement of job cuts, Pfizer shares rose 18 cents to $18.86, while Merck shares rose 4 cents to $37.74.