Compugen, Pfizer enter into multi-target collaboration

Dec 23 2009

Compugen Ltd. (NASDAQ:CGEN) announced today that it has signed a collaboration agreement with Pfizer for the predictive discovery by Compugen of therapeutic peptide product candidates for three drug targets of interest to Pfizer. The discovery process, which will be based on various Compugen discovery platforms and funded by Pfizer, is expected to take a few months, following which the predicted molecules will be synthesized and delivered to Pfizer. Following an evaluation period, Pfizer will have the right to exercise options for worldwide exclusive milestone and royalty bearing licenses to develop and commercialize the selected product candidates or further optimize them to obtain final potent, selective product candidates with favorable pharmacokinetic properties.

“We are extremely pleased to be entering into this multi-target collaboration with Pfizer, and we look forward to entering into similar agreements with additional pharmaceutical and biopharmaceutical companies.”

“Although use of our various discovery platforms is now providing us with a growing inventory of novel drug and target candidates for further development and licensing, the most unique aspect of our capabilities is the ability to systematically and within a short timeframe provide, what we call, discovery on demand product candidates for selected areas of interest to our partners,” Dr. Anat Cohen-Dayag, president and co-CEO of Compugen said. “We are extremely pleased to be entering into this multi-target collaboration with Pfizer, and we look forward to entering into similar agreements with additional pharmaceutical and biopharmaceutical companies.”