Agreement makes Pfizer an exclusive partner and gives it an advisory and board role.
EyeCyte secured a $3 million series A financing through an agreement with Pfizer. The backing will reportedly support the company into 2010. EyeCyte focuses on stem/progenitor cell-based ophthalmology R&D.

According to this investment, Pfizer will become EyeCyte’s sole pharmaceutical partner and have an advisory and board role. Pfizer will also have right of first refusal for a buy-out of EyeCyte or its technologies.

“We are very pleased with the terms of our collaboration and believe that Pfizer shares our goal of building a premier ophthalmology research and development organization with an emphasis on stem/progenitor cell based therapies,” remarks Mohammad A. El-Kalay, Ph.D., president and CEO, EyeCyte.