GlycoMimetics receives $15 Million payment from Pfizer in connection with planned initiation of Phase 3 Trial

21-05-2014 Business Wire HealthComments (0)

GlycoMimeticsPfizerPharmaceuticalUSA

GlycoMimetics, Inc. (NASDAQ: GLYC) announced today that Pfizer (NYSE: PFE) has made a $15 million payment to GlycoMimetics under the terms of the parties’ collaboration for the development of rivipansel (GMI-1070). Under the collaboration, Pfizer plans to initiate a Phase 3 clinical trial of rivipansel, which will trigger an additional $20 million milestone payment to GlycoMimetics upon the dosing of the first patient in the trial. “Moving into Phase 3 will b

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