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news.Pfizer and Medivation, a biopharmaceutical company, have signed an agreement to develop and commercialize Dimebon, Medivation's investigational drug for treatment of Alzheimer's disease and Huntington's disease.
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Under the terms of the agreement, Medivation will receive an up-front cash payment of $225 million. Medivation also is eligible to receive payments of up to $500 million upon the attainment of development and regulatory milestones plus additional undisclosed commercial milestone payments. Medivation and Pfizer will collaborate on the Phase III program in Alzheimer’s disease, Huntington’s disease development and regulatory filings in the US.
The companies will share all US development and commercialization expenses along with US profits/losses on a 60%/40% basis, with Pfizer assuming the larger share of both expenses and profit/losses. In addition, Medivation will co-promote Dimebon to specialty physicians in the US.
Pfizer will have responsibility for development, regulatory and commercialization outside the US and will pay Medivation tiered royalties on commercial sales outside of the US.
Dimebon is currently being evaluated in an international, confirmatory Phase III trial in patients with mild-to-moderate Alzheimer’s disease.
Martin Mackay, president of global R&D at Pfizer, said: “We are working to develop new medicines that improve memory and halt or significantly slow the disease’s progression. We look forward to collaborating with Medivation to bring Dimebon to patients as rapidly as possible.”