SAN RAMON, Calif.—December 13, 2007—While not specifying the dollar amounts, Odyssey Thera announced the achievement of two milestones in its collaboration with Pfizer, triggering milestone payments. The milestones are the generation of a large panel of high-content assays and the development of a novel platform to quantify biological activity of metabolites within living human cells.
SAN RAMON, Calif.—To gain a better understanding of metabolic pathways within cells, Pfizer will take advantage of Odyssey Thera's protein-fragment complementation assay (PCA) through a newly signed research alliance. Although no financial details were offered, the multi-year agreement will see the biotech company earn an upfront payment, research and capital expenditure funding, and success based milestone payments.
Under the terms of the alliance, Odyssey will monitor the response of cellular signaling networks to a variety of unspecified chemical leads and drug candidates using PCA and other high-throughput microscopy techniques. Another goal of the collaboration is the development of novel tools and strategies to aid in the selection of pharmaceutical candidates with better safety and selectivity profiles.
"The significant expansion of our collaboration with Pfizer validates our approach to defining compound activities within living cells, and we look forward to working closely with Pfizer to further develop these powerful tools," says Dr. John Westwick, Odyssey Thera president and CEO.