Pfizer licenses Novocell's progenitor cells

Novocell, a US stem cell engineering company, has entered into a non-exclusive drug discovery collaboration granting world drug giant  Pfizer access to its proprietary pancreatic progenitor cells derived  from human embryonic stem cells.

Under terms of the deal, Novocell will receive an upfront payment with  additional amounts payable upon the achievement of certain technical  milestones, as well as research funding. In addition, the San  Diego-based stem cell engineering firm will receive payments relating to  the sale by Pfizer of any exclusive therapeutic discovered as a result  of the collaboration. The duration of the R&D accord will be two years,  with the option by Pfizer to extend.

"This joint opportunity takes advantage of our leading stem cell  engineering technologies and Pfizer's expertise in drug discovery,  providing for innovative, regenerative therapeutics," said Alan Lewis,  chief executive of Novocell.