Pfizer signs $340 million licensing pact with GlycoMimetics

10/11/2011 | American City Business Journals

GlycoMimetics entered a global licensing agreement with Pfizer for GMI-1070, an experimental treatment for vaso-occlusive crisis in patients with sickle cell disease. The deal calls for GlycoMimetics to complete the drug's Phase II study, then turn over further development and commercialization to Pfizer. GlycoMimetics is entitled to upfront, milestone and royalty payments worth as much as $340 million.

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