Transaction related to delta opioid receptor agonists calls for $30 million initially.
Pfizer inked a $264.4 million agreement with Adolor related to the latter’s Delta program in pain modulation. Currently, there are two compounds in this program. ADL5859 is in Phase IIa testing, and ADL5747 will enter Phase I trials in 2008, according to Adolor. Both compounds are delta opioid receptor agonist candidates with the added potential to treat a wide range of inflammatory and neuropathic illnesses, according to the companies.
Adolor will receive an upfront, nonrefundable payment of $30 million plus $1.9 million in reimbursements for prior Phase II development costs.
Pfizer will also pay up to $232.5 million upon the achievement of development and regulatory milestones for its Delta compounds. The first milestone will be the commencement of Phase IIb studies. The companies report that more than 50% of all milestones may be earned prior to regulatory approval of the compounds.
Pfizer and Adolor will share revenues and expenses in a 60:40 ratio in the U. S. Outside the U.S., Pfizer will fund development activities. Upon commercialization, Adolor will receive royalties.
The firms will form a joint steering committee to guide the collaboration. Pfizer will be responsible for securing regulatory approvals and commercialization on a worldwide basis.
“Our vision for the Delta agonists has been to develop a new class of opioids, delivering analgesia without some of the complicating side effects of traditional mu agonists,” says Michael R. Dougherty, president and CEO of Adolor. “Pfizer brings extensive pain-management development and commercial expertise to this collaboration and we look forward to working with Pfizer in the pursuit of this vision.”
