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news.Santaris Pharma and Pfizer have extended their collaboration pact to discover, develop and commercialize RNA-targeted medicines using Santaris Pharma Locked Nucleic Acid (LNA) Drug Platform.
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The original agreement was signed in January 2009 between Santaris Pharma and Wyeth, which was acquired by Pfizer.
As per the terms of the extended agreement, Santaris Pharma will get around $14m from Pfizer for using its LNA technology for the development of RNA-targeted drugs.
Additionally, Santaris Pharma is also entitled to get $600m as a milestone payment as well as royalties on sales of products that may be developed for up to 10 new RNA targets selected by Pfizer.
Pfizer Worldwide Research and Development president Mikael Dolsten said that the expansion of the collaboration with Santaris Pharma demonstrates their strategic intention to partner with biopharm/biotech companies to explore novel drug design technologies as a potential source for breakthrough therapeutics.