Pfizer buys autoimmune diseases drug rights from Gliknik Inc. for $25 million
Worldwide licensing agreement is for GL-2045, Gliknik's recombinant stradomer, a drug candidate designed to replace and improve on pooled human intravenous immunoglobulin
BALTIMORE—Privately held biopharma Gliknik Inc. announcedSept. 30 that it had entered into an exclusive worldwide licensing agreementwith Pfizer Inc. for GL-2045, Gliknik's recombinant stradomer, a drug candidatethat is designed to replace and improve on pooled human intravenousimmunoglobulin (IVIG). GL-2045 reportedly has shown promising results in abroad range of preclinical tests and is being developed as a potentialtreatment for a variety of autoimmune diseases, including those in which IVIGis clinically used.
Under the terms of the license agreement, Pfizerwill receive an exclusive worldwide license to GL-2045 for all therapeuticindications. In return, Gliknik will receive an upfront payment of $25 millionand is eligible to receive development, regulatory and commercial milestonepayments. Gliknik is also eligible to receive tiered, double-digit royalties onnet sales of any products that are commercialized pursuant to this licenseagreement.
"People with certain autoimmune diseases havelimited treatment options, difficult regimens and often a poor prognosis,"said Dr. Jose Carlos Gutierrez-Ramos, group senior vice president and head of biotherapeuticsR&D at Pfizer. "Pooled IVIG has a long history of use but has a numberof limitations. We are pleased to partner with Gliknik on this noveltherapeutic approach which may provide an important new option in managing debilitatingautoimmune diseases."
"GL-2045 is the first of several innovativedrug candidates Gliknik is advancing for people with autoimmune diseases andcancer," said David S. Block, CEO of Gliknik. "We selected Pfizer asour partner to progress GL-2045 from among several interested and capableparties because of its exceptional development, manufacturing and commercialcapabilities."
SOURCE: Gliknik news release
