The selection of the candidate by Pfizer constitutes a milestone in the collaboration between the two companies which will result in Rigel receiving a $5 million payment.
The collaboration was established in 2005 and aims to investigate and develop syk kinase inhibitors via intrapulmonary delivery to find treatments for allergic asthma and chronic obstructive pulmonary disease.
“Pfizer's decision to take R343 into development is significant because it supports the potential of syk inhibition in the treatment of allergic diseases such as allergic asthma,” said Dr Donald Payan, executive vice president and chief scientific officer of Rigel. “It is also significant because Pfizer is committing substantial investment and scientific resources ahead of the clinical development of this new treatment approach.”
R343 is designed to block the major pathways that are triggered in allergic asthma. It appears to be particularly appropriate for intrapulmonary delivery due to its limited systemic exposure.
Under the terms of the agreement, Rigel received an initial cash payment and is eligible to receive milestone payments for preclinical and clinical events as well as royalties on any future product sales. Pfizer made an equity investment in Rigel and is responsible for worldwide development and commercialization of any resulting compounds. Additional terms were not disclosed.