Pfizer Inc. (NYSE:PFE) and TransTech Pharma, Inc.
announced today that they have entered into a license agreement for
the development and commercialization of small and large molecule
compounds under development by TransTech. These compounds target the
receptor for advanced glycation endproducts (RAGE) and have potential
use in the treatment of Alzheimer's disease, a progressive illness
that kills nerve cells in the brain afflicting some 18 million people
worldwide.
Through the collaboration, Pfizer gains exclusive worldwide rights
to develop and commercialize TransTech's portfolio of RAGE modulators.
The most advanced molecules are: TTP488, an orally available
small-molecule compound that has completed a Phase 2a study in
Alzheimer's patients and is currently in a Phase 2 study in patients
with diabetic nephropathy; and TTP4000, a large-molecule compound that
is expected to enter Phase 1 clinical trials before the end of 2006.
Under the agreement, TransTech will receive upfront and near-term
milestone payments of $155 million and the potential for significant
additional milestone payments for the successful development and
commercialization of multiple RAGE antagonists in several indications.
TransTech will also receive royalties on worldwide sales of products.
In addition, Pfizer will provide TransTech up to $18 million during
the research term to support continued expansion of the RAGE
portfolio. The agreement is subject to clearance by U.S. Federal Trade
Commission.
"This agreement is an important step in Pfizer's commitment to
neurosciences research and the development of new medicines for
patients whose lives are impacted by Alzheimer's disease (AD) and
other disorders," said Martin Mackay, Ph.D., Pfizer Senior Vice
President Worldwide Research and Technology. "As a world leader in
Alzheimer's disease therapy, we understand the need for new treatment
options for this debilitating disease which takes an enormous toll on
our aging and elderly population."
"Our collaboration with TransTech advances our strategy to build
upon Pfizer's broad internal research programs with high-potential,
externally sourced product candidates and technologies. With this
agreement, we have now signed 10 major deals for new products and
technologies in a number of therapeutic areas in the last year and our
goal is to accelerate this activity by quickly seizing on new
opportunities," added Mackay.
"We are extremely pleased and excited to be partnering our RAGE
platform with Pfizer," said Adnan M. M. Mjalli, Ph.D., Founder,
President and Chief Executive Officer of TransTech Pharma. "We believe
this transaction has the potential to be among the largest of its kind
in recent years. Pfizer's deep commitment in multiple therapeutic
areas coupled with their broad expertise and experience in the
development and commercialization of new medicines, especially for the
treatment of central nervous system diseases, were significant factors
in our decision to go with Pfizer as the partner of choice to advance
our current portfolio of RAGE inhibitors in a variety of potential
indications."
TransTech Pharma, Inc. is a majority-owned affiliate of MacAndrews
& Forbes Holdings Inc., whose sole shareholder is Ronald O. Perelman.
About RAGE
The receptor for advanced glycation end products (RAGE) is a
member of the immunoglobulin superfamily of cell surface molecules
with a variety of ligands that are associated with different diseases.
Ligands of RAGE and their associated diseases include:
-- amyloid fibrils - Alzheimer's disease
-- advanced glycation endproducts (AGEs) - diabetes and renal
insufficiency
-- amphoterin - tumors
-- S100/calgranulins - inflammation.
Pfizer Inc: Working for a healthier world(TM)
Founded in 1849, Pfizer is the world's largest research-based
pharmaceutical company taking new approaches to better health. We
discover and develop innovative medicines to treat and help prevent
disease for both people and animals. Through consistent, high-quality
manufacturing and distribution operations, our medicines reach
patients in 180 nations. We also partner with healthcare providers,
governments and local communities around the world to expand access to
our medicines and to provide better quality healthcare and health
system support. At Pfizer, our colleagues work every day to help
people stay happier and healthier longer and to reduce the human and
economic burden of disease worldwide.
About TransTech Pharma
TransTech Pharma is a privately held clinical-stage pharmaceutical
company focused on the discovery, development, and commercialization
of human therapeutics to fill unmet medical needs. The Company's
high-throughput drug discovery platform, Translational Technology(R),
translates the functional modulation of human proteins into safe and
effective medicines. TransTech has a pipeline of small molecule
clinical and pre-clinical drug candidates for the treatment of a wide
range of human diseases, including cardiovascular disorders, central
nervous system disorders, type I/II diabetes, obesity and cancer. For
further company information, visit http://www.ttpharma.com.
PFIZER DISCLOSURE NOTICE: The information contained in this
release is as of September 18, 2006. Pfizer assumes no obligation to
update any forward-looking statements contained in this release as the
result of new information or future events or developments.
This release contains forward-looking information about a license
agreement between Pfizer Inc. and TransTech Pharma, Inc. and about
possible product candidates that may be developed from TransTech's
portfolio of RAGE modulators and the potential benefits of such
product candidates. This information involves substantial risks and
uncertainties including, among other things, the satisfaction of
conditions to closing the agreement; the uncertainties inherent in
research and development activities; decisions by regulatory
authorities regarding whether and when to approve any drug
applications for product candidates that may be developed from
TransTech's portfolio of RAGE modulators as well as their decisions
regarding labeling and other matters that could affect the
availability or commercial potential of any such product candidates;
and competitive developments.
A further list and description of risks and uncertainties can be
found in Pfizer's Annual Report on Form 10-K for the fiscal year ended
December 31, 2005 and in its reports on Form 10-Q and Form 8-K.
