Pfizer milestones for Renovis in VR1 accord

Renovis, a San Francisco, USA-based biopharmaceutical company focused on the discovery and development of drugs for major medical needs in the areas of neurological and inflammatory diseases, has announced the achievement of two milestones in its research collaboration with drug behemoth Pfizer to discover and develop VR1 antagonists for the potential treatment of pain and other indications.

The milestones include the placement of a second product candidate from the VR1 program into Investigational New Drug-enabling studies, as well as completion of certain trials with a previously-nominated compound. In addition to triggering aggregate payments of $4.5 million from Pfizer to Renovis, these milestones illustrate the continued productivity of the company's joint effort with the drug major, says Renovis.

"VR1 antagonists have the potential to become breakthrough treatments for chronic pain and several other important indications," said Corey Goodman, chief executive of Renovis, adding: "our goal for the VR1 program with Pfizer has been to discover and develop multiple product candidates to address the needs of patients in these areas. With the recent nomination of a second candidate for IND-enabling studies we believe we are making excellent progress toward this goal."