Direvo in research deal with Pfizer

Cologne, German-based Direvo Biotech has signed a collaboration agreement with global drug giant Pfizer to develop therapeutic proteases for different targets as potential treatments for various diseases. Privately-held Direvo will apply its protein-engineering capabilities to create novel proteases with engineered specificity for these targets.

Under the terms of the deal, Pfizer will be responsible for the development and marketing of the respective compounds, while the German firm will receive payments on reaching certain R&D milestones, as well as royalties for any resulting product that reaches the market. Further financial details were not disclosed.