ActivX Announces Expansion of Collaboration Agreement With Pfizer
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ActivX Biosciences, Inc., a wholly-owned subsidiary of Tokyo-based Kyorin Pharmaceutical Co., Ltd., has announced that it has renewed its strategic collaborative agreement with Pfizer that encompasses discovery to developmental stage projects across multiple research sites of Pfizer's Global Research and Development organization.
ActivX has previously announced an expansion of its collaboration with Pfizer in February 2005.
Under the terms of the agreement, ActivX will apply its chemical technologies and high-throughput protein analysis to a number of Pfizer programs spanning drug discovery, proteomic profiling, compound selectivity and biological activity, and mechanisms of toxicity.
"The Pfizer collaboration is an important component of our scientific and business strategy," stated Dr. John W. Kozarich, Chairman and President at ActivX.
"Its renewal for a third year is a testimony to the value that the ActivX technology has added to Pfizer R&D programs," he added.
Financial terms of this transaction include an upfront technology access fee along with research support payments by Pfizer.