Guilford Pharmaceuticals signs license agreement with Pfizer
In a deal worth an initial US$15m, US-based Guilford Pharmaceuticals has entered into an exclusive licence agreement with Pfizer for a novel class of potential drugs called NAALADase inhibitors that have been shown in preclinical testing to ameliorate certain central and peripheral neurodegenerative diseases, such as diabetic peripheral neuropathy and neuropathic pain.
In a deal worth an initial US$15m, US-based Guilford Pharmaceuticals has entered into an exclusive licence agreement with Pfizer for a novel class of potential drugs called NAALADase inhibitors that have been shown in preclinical testing to ameliorate certain central and peripheral neurodegenerative diseases, such as diabetic peripheral neuropathy and neuropathic pain.
Under the terms of the agreement, Pfizer will have exclusive rights to develop Guilford's NAALADase inhibitors worldwide, and will conduct and pay for all costs associated with research, development, manufacturing, and commercialisation of any products. Guilford retains the right to continue to conduct and pay for the development of NAALADase inhibitors not under development by Pfizer for prostate cancer, head and spinal cord injury, and drug addiction. Pfizer has the exclusive right in the future to acquire, for certain consideration, any products developed by Guilford for these indications.
As part of the agreement, Guilford is eligible to receive royalties on future product sales and milestone payments related to the successful development and commercialisation of a NAALADase inhibitor. The schedule of milestone payments outlines a total of $42m to be paid for each compound developed through commercialisation, as well as one additional set of milestone payments totalling $20m for an additional indication for the same compound.
NAALADase, or N-Acetylated-Alpha-Linked-Acidic-Dipeptidase, is a membrane-bound enzyme found principally in the central and peripheral nervous systems that is believed to play a role in modulating the release of glutamate. During conditions of acute injury or chronic neurodegenerative disorders, there may be a large increase in glutamate release that incites a cascade of biochemical events, ultimately leading to cell injury and death.
In preclinical animal models of diabetic peripheral neuropathy and neuropathic pain, Guilford scientists have shown that treatment with a NAALADase inhibitor can normalize pain sensitivity, increase nerve conduction velocity and prevent or slow peripheral nerve degeneration.