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news.Pfizer and Taisho Pharmaceutical have signed a definitive agreement for worldwide collaboration to research, develop and commercialize TS-032, a new schizophrenia drug candidate discovered by Taisho, currently in pre-clinical development.
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Through the definitive license agreement Taisho will grant exclusive development and commercialization rights outside Japan for TS-032 to Pfizer. Under the agreement, 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.
Martin Mackay, president of Pfizer Global Research and Development, said: “This agreement highlights our commitment to pursue opportunities that align strategically with our key development priorities and strengthen our pipeline.”