Under the terms of the agreement, ActivX will apply its novel chemical technologies and high-throughput protein analysis to a number of Pfizer programs spanning drug discovery, polemic profiling, compound selectivity and biological activity, and mechanisms of toxicity.
“The Pfizer collaboration is an important component of our scientific and business strategy,” stated Dr John Ostrich, chairman and president at ActivX. “Its renewal for a third year is a testimony to the value that the ActivX technology has added to Pfizer R&D programs,” he added.
Financial terms of this transaction include an upfront technology access fee along with research support payments by Pfizer. ActivX previously announced an expansion of its collaboration with Pfizer in February 2005.