Icagen updates on Pfizer pact

Icagen and Pfizer have recently conducted a clinical study in healthy volunteers of several collaboration compounds targeting the sodium ion channel Nav1.7. They have now selected one of these compounds to advance into further clinical studies.

The selection of the compound has triggered a milestone payment to Icagen of $1m.

Pfizer and Icagen recently renewed and extended the research term of their collaboration through year-end 2011.

Pfizer will continue to fund all aspects of the collaboration, including research and preclinical development efforts at Icagen, and has exclusive worldwide rights to commercialise products that result from the collaboration.

Under the agreement, Icagen is eligible to receive approximately $359m upon achievement of specified research, development, regulatory and commercialisation milestones for products under the collaboration, and is also eligible to receive tiered royalties, against which the commercialization milestones are creditable, based upon product sales.

Icagen CEO Kay Wagoner said they are very pleased that, in collaboration with Pfizer, they have now selected a novel compound for further clinical development in our Nav1.7 program.

"This marks an important achievement, as we believe, based upon a range of genetic and scientific evidence, that subtype selective sodium channel blockers represent a promising approach for the treatment of pain and related disorders," Wagoner said.