Pfizer and Tacere sign $145M HCV drug deal

USA-basd Tacere Therapeutics, an RNA interference specialist, has entered into a collaboration and license agreement with world drug giant Pfizer to develop and commercialize its hepatitis C virus drug, TT-033. The collaboration will focus on completing all necessary studies for submission of an Investigational New Drug application, as well as clinical development and commercialization.

Under the terms of the deal, the firms will form a joint steering committee to oversee preclinical R&D efforts. Pfizer will fund all aspects of the collaboration, including the preclinical work and will have exclusive worldwide rights, outside of Asian countries, to commercialize products that result from the collaboration.

During the initial phase of the accord, Pfizer will provide Tacere with funding in order to complete the necessary IND-enabling studies. In addition, Tacere will be eligible to receive milestones through successful achievement of development, approval and commercialization goals resulting in total potential payments of over $145.0 million. Upon commercialization, the firm would be entitled to receive royalties on net sales by Pfizer.