Pfizer to acquire rights to Taisho schizophrenia drug

Through the proposed license agreement, Taisho would grant exclusive development and commercialization rights outside Japan for TS-032 to Pfizer. If the license agreement is signed, Taisho will receive from Pfizer an initial payment of $22 million. Taisho will also receive milestone payments tied to progress of development, as well as royalties and milestone payments tied to sales if TS-032 is approved by regulatory authorities and launched.

TS-032 is a novel mGluR (metabotropic glutamate receptor) agonist that may offer a new treatment option for central nervous system disorders.