Tripos Announces Completion of Pfizer Collaboration
News Nov 24, 2005
Tripos, Inc. has announced that its file enrichment collaboration with Pfizer Inc. will conclude in December 2005. This will complete Tripos' work on Pfizer's library collection.
Under the terms of the agreement, Tripos received approximately $90 million over the four-year project for the design, synthesis and purification of drug-like compounds, hit follow-up and large library production.
"This was a very productive relationship, and the knowledge and experience we have gained through our work with Pfizer during the past four years will benefit our existing and future customers with whom we continue to discover and develop new drug candidates," said Dr. John P. McAlister, president and CEO of Tripos.
"As our Pfizer collaboration draws to an end, we remain committed to our Discovery Research business, as evidenced by our significant investment in Tripos Discovery Research and our new LeadDiscovery program."
"We are evaluating the level of resources necessary to build high-value discovery research collaborations with our customers, and anticipate a reorganization of Tripos Discovery Research may be necessary," McAlister said.
"We will carefully review staff levels to ensure we can continue to deliver the highest-quality service without impacting our existing and developing collaborations."
"Tripos Discovery Informatics (our software business) is not impacted by the Pfizer file enrichment contract completion, and existing informatics contracts with Pfizer are unaffected."