Melior signs option deal with Pfizer
USA-based Melior Discovery says that it has signed an option agreement that provides global drug giant Pfizer with the exclusive right to negotiate a license to MLR-1023, Melior's drug candidate for type 2 diabetes. In exchange, Pfizer has agreed to make an undisclosed payment to Melior and provide access to certain data it owns related to MLR-1023. In addition, Melior agreed to utilize its in vivo theraTRACE indications discovery platform to evaluate the activity of selected Pfizer compounds in partnership with the firm.
"This is the second collaboration initiated with Pfizer in the last 18 months and we look forward to this expansion to our productive research and development relationship," said Andrew Reaume, chief executive of Melior.
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