Under this agreement, Pfizer will obtain a worldwide exclusive license to develop and commercialize CD-RAP. In addition to receiving royalties on the sale of any products that may be commercialized under this agreement, Scil is eligible for upfront and milestone payments of approximately $250 million depending on the achievement of various development and regulatory milestones.
Edmund Harrigan, senior vice president, worldwide business development at Pfizer, said: “We look forward to working with Scil on this collaboration and leveraging our combined resources to develop valuable new treatment options for patients with osteoarthritis.”