MILAN Jan 3 Italian biopharmaceutical company
Philogen has signed a worldwide licence agreement with drug firm
Pfizer for the development of Dekavil, an experimental
treatment for autoimmune diseases.
Under the deal, Pfizer will retain exclusive rights to
market any products developed during the collaboration, Philogen
said in a statement on Thursday.
Philogen will receive an upfront payment and will be
eligible to receive milestone and royalty payments.
Further financial details were not disclosed.
"The licensing agreement with Pfizer accelerates our strong
commitment to Philogen's unique approach to delivering
therapeutic molecules specifically to their site of action,"
Philogen Chief Executive Duccio Neri said.
Currently in Phase 1 clinical testing, Dekavil is designed
as an "armed antibody" which selectively targets inflammatory
disease sites in the body instead of suppressing the immune
system, Philogen said.
The Siena-based biotech group focuses on developing
treatments for disorders related to angiogenesis, the growth of
new blood vessels which can play a role in illnesses such as