Phylogica will employ its proprietary Phylomer drug discovery platform to identify Phylomer peptides suitable for further evaluation.
As per the agreement, Phylogica grants Pfizer certain rights, including an option to license any resulting Phylomers for further research, development and commercialisation of novel peptide-based vaccines derived from such Phylomers.
Under the terms of the agreement, Pfizer will pay an upfront payment of $500,000 to Phylogica.
In addition, Phylogica is eligible to receive a commercial license payment and is also eligible to receive preclinical, clinical and other milestone payments of up to $134m, as well as royalties on worldwide sales.
Phylogica founder and CEO Paul Watt said this alliance supports the potential utility of Phylogica’s Phylomer drug discovery platform for peptide-based drug discovery.
"With the present announcement, Phylogica has now entered into three alliances with global pharmaceutical companies within the last 12 months," Watt said.