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news.Tacere Therapeutics has entered into a collaboration and license agreement with Pfizer to develop and commercialize its hepatitis C virus compound, TT-033. The collaboration will focus on completing all necessary studies for submission of an investigational new drug application, as well as clinical development and commercialization of TT-033.
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Under the terms of the agreement, Tacere and Pfizer will form a joint steering committee to oversee preclinical R&D efforts for TT-033. Pfizer will fund all aspects of the collaboration, including the preclinical development work and will have exclusive worldwide rights, excluding all Asian countries, to commercialize products that result from the collaboration.
During the initial stage of the collaboration, Pfizer will provide Tacere with funding in order to complete the necessary investigational new drug application enabling studies for TT-033. In addition, Tacere will be eligible to receive milestone payments through successful achievement of development, approval and commercialization milestones resulting in total potential payments to Tacere of over $145 million. Upon commercialization of TT-033 Tacere would be entitled to receive royalties on net sales by Pfizer.