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 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.