MingSight acquires worldwide rights from Pfizer to develop new chemical entities for human diseases

Oct 11 2010

MingSight Pharmaceuticals announced today that it has acquired the exclusive worldwide rights from Pfizer to develop, manufacture, and commercialize two preclinical stage new chemical entities for the prevention and treatment of human diseases.

“Our goal is to demonstrate their safety and efficacy in clinical trials and thereby unlock the potential of these agents for addressing the needs of patients with serious and sight-threatening ophthalmic diseases.”

The lead compound licensed under the agreement has demonstrated efficacy in preclinical models of diabetic retinopathy. Due to its unique pharmacokinetic profile, the compound has the potential to become an oral treatment of retinal diseases. The second compound has also demonstrated supportive properties in both in vitro and in vivo studies. In addition to targeting diabetic eye diseases, these two compounds have the potential to treat other important ophthalmic conditions such as uveitis and dry eye.

Under the terms of the agreement, MingSight has agreed to pay Pfizer an upfront fee, paid in the form of cash and a convertible note, as well as development and sales related milestone payments, and royalties on future sales.

Kai Zhang, Chief Executive Officer and Co-Founder of MingSight, commented: "MingSight is pleased to have reached this agreement with Pfizer. We look forward to employing our novel approach to R&D, which includes collaborations with partners in China, to quickly advance the development of these promising agents. We seek to maximize the value of these innovative compounds in both developed and emerging markets."

David Eveleth, Vice President of Clinical Development and Medical Affairs at Pfizer, commented: "Partnering with companies like MingSight is part of our overall strategy for building a network of collaborators pursuing therapies for patients with ophthalmic diseases."

"We are committed to trying to advance these novel compounds through preclinical and clinical studies," Michael Niesman, Chief Scientific Officer and Co-Founder of MingSight, added. "Our goal is to demonstrate their safety and efficacy in clinical trials and thereby unlock the potential of these agents for addressing the needs of patients with serious and sight-threatening ophthalmic diseases."

Source: MingSight Pharmaceuticals