Odyssey To Receive Milestone Payments From Pfizer

Odyssey Thera (Odyssey) has reported that it will receive milestone payments from one of its investors, Pfizer, following the latter’s decision to progress drug candidates studied by Odyssey as part of its multi-year alliance with Pfizer announced in August, 2006.

Reportedly, these milestones are the company’s fourth and fifth to be earned for the advancement of specific drug candidates, and follow other technology development milestones previously achieved in the alliance.

John Westwick, president and CEO at Odyssey, said: “We are delighted to participate in the success of Pfizer’s cutting-edge drug discovery programs. We look forward to continued success in the application of our validated strategies, both in our partnerships and for our internal drug development programs.”