Monday, Icagen Inc. (ICGN) announced an one-year extension to a prior worldwide collaboration and licensing agreement with Pfizer aimed at discovering, developing and commercializing compounds, that modify 3 specific sodium ion channels as new potential treatments for pain and related disorders.
During the extension period, Pfizer will continue to fund all aspects of the collaboration including research efforts at both companies and will continue to have exclusive worldwide rights to commercialize products resulting from the collaboration, Icagen added. Under the terms of the extended agreement, Pfizer will provide about $5 million in committed funding to Icagen over the next year of the collaboration through September 30, 2010.
Additionally, Icagen noted that it remains eligible to receive about $359 million in research, development, regulatory and commercialization milestones for each product. Also, Icagen said it is eligible to receive tiered royalties, against which the commercialization milestones are creditable, based upon product sales.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.