Plus   Neg

Gliknik To Receive $15 Mln Payment From Pfizer On Progress With PF-06755347

Gliknik said that it will receive a $15 million milestone payment from Pfizer Inc. (PFE) following the start of a Phase I clinical trial of Pfizer drug candidate PF-06755347, previously known as GL-2045, for the potential treatment of chronic inflammatory demyelinating polyneuropathy or CIDP, a rare neurological disorder.

Gliknik and Pfizer entered into an exclusive worldwide licensing agreement in 2013.

Gliknik noted that it continues to be eligible to receive potential development, regulatory and commercial milestone payments under the 2013 license agreement with Pfizer. Gliknik is also eligible to receive tiered, double-digit royalties on net sales of any products that may be commercialized pursuant to this license agreement.

For comments and feedback contact: editorial@rttnews.com

Business News

More Breaking News

0 Articles
Editors Pick
Shares of Biogen Inc. are falling almost 28 percent in Thursday's trading after the company and Japanese drugmaker Eisai Co. said they will discontinue two late-stage trials for their experimental Alzheimer's drug, Aducanumab. The two Phase 3 trials, ENGAGE and EMERGE, are multi-center, randomized, double-blind, placebo-controlled, parallel-group studies designed to evaluate Aducanumab. The European Union on Wednesday ordered Alphabet Inc.'s Google to pay an antitrust fine of 1.49 billion euros for abusing its dominant position in the online search advertising intermediation market by preventing competition. This is the third antitrust fine by the EU against Google and it represents 1.29 percent of the tech giant's turnover in 2018. Shares of BMW Group declined around 5 percent in German trading after the auto giant reported Wednesday weak profit in its fiscal year 2018, despite a 0.1 percent growth in Automotive revenues with higher deliveries. Looking ahead for fiscal 2019, the company expects Group profit before tax will be well below the previous year's level. BMW said it is confident of volume growth in Automotive unit.
Follow RTT