Pfizer and Scil Finalize Agreement for Novel Cartilage Growth Factor

Pfizer Inc.Pfizer Inc (NYSE:PFE) and Scil Technology GmbH (Scil) have signed a licensing agreement for worldwide collaboration on Scil’s cartilage specific growth factor CD-RAP. Under this agreement, Pfizer will obtain a worldwide exclusive license to develop and commercialize CD-RAP. In addition to receiving royalties on the sale of any products that may be commercialised under this agreement, Scil is eligible for upfront and milestone payments of approximately U.S. $250 million depending on the achievement of various development and regulatory milestones.

"The successful conclusion of this license agreement with Pfizer increases the company's value", stated Dr. Weishui Weiser, managing director of Scil. "In addition, this is one more step towards achieving Scil's mission, improving the quality of patients' lives."

"We are pleased", added Dr. Volker Lang, vice president, Corporate Development of Scil. "We believe that having Pfizer as a partner advances Scil as an organisation capable of generating commercial value from scientific expertise."

"This partnership reflects Pfizer's ongoing commitment to pursue the best science anywhere on the globe and secure novel technologies and products that will complement our existing research programs," said Dr. Edmund Harrigan, senior vice president Worldwide Business Development. "We look forward to working with Scil on this collaboration and leveraging our combined resources to develop valuable new treatment options for patients with osteoarthritis."

About Pfizer
Pfizer discovers and develops innovative medicines to treat and help prevent disease for both people and animals. We also partner with healthcare providers, governments and local communities around the world to expand access to our medicines and to provide better quality healthcare and health system support. For more information, please visit www.pfizer.com.

About Scil Technology GmbH
Scil Technology is a privately financed biopharmaceutical development company focused on dental and orthopedic tissue regeneration with a particular emphasis on bone and cartilage repair. The company's therapeutic candidates are based on recombinant human growth factors. These factors are combined with biodegradable biomaterials to generate local application forms. Scil Technology's pipeline for dentistry includes products that are targeted at periodontal disease, dental implantology and maxillofacial surgery. Orthopedic products are developed for treatment of traumatic lesions of bone and cartilage and osteoarthritis. Scil Technology is located in the biotechnology cluster in Martinsried, Germany. For more information, please visit www.sciltechnology.com.

Most Popular Now

How SARS-CoV-2 mutates to escape antibody binding

In a recurring pattern of evolution, SARS-CoV-2 evades immune responses by selectively deleting small bits of its genetic sequence, according to new research from the Uni...

Anticancer drug may improve outcome for severe COV…

Treating severe COVID-19 patients with the anticancer drug bevacizumab may reduce mortality and speed up recovery, according to a small clinical study in Italy and China ...

One dose of COVID-19 vaccine provokes strong immun…

Although clinical trial data are encouraging, real-world evidence with regard to the COVID-19 vaccine remains scarce. In particular, response to the vaccine among those p...

Pfizer and BioNTech commence global clinical trial…

Pfizer Inc. (NYSE: PFE) and BioNTech SE (Nasdaq: BNTX) announced today that the first participants have been dosed in a global Phase 2/3 study to further evaluate the saf...

Johnson & Johnson announces submission of appl…

Johnson & Johnson (NYSE: JNJ) (the Company) announced that Janssen Biotech, Inc., has submitted an application to the U.S. Food and Drug Administration (FDA) requesting E...

Could a nasal spray prevent coronavirus transmissi…

A nasal antiviral created by researchers at Columbia University Vagelos College of Physicians and Surgeons blocked transmission of SARS-CoV-2 in ferrets, suggesting the n...

European Commission purchases additional 150 milli…

Moderna, Inc. (Nasdaq: MRNA), a biotechnology company pioneering messenger RNA (mRNA) therapeutics and vaccines, today announced that the European Commission purchased an...

GSK and Vir Biotechnology expand coronavirus colla…

GlaxoSmithKline plc (LSE/NYSE: GSK) and Vir Biotechnology, Inc. (Nasdaq: VIR) have signed a binding agreement to expand their existing collaboration to include the resear...

Neandertal gene variants both increase and decreas…

Last year, researchers at Karolinska Institutet in Sweden and the Max Planck Institute for Evolutionary Anthropology in Leipzig, Germany showed that a major genetic risk ...

CureVac initiates rolling submission with European…

CureVac N.V. (Nasdaq: CVAC), a global biopharmaceutical company developing a new class of transformative medicines based on messenger ribonucleic acid (mRNA), today annou...

Pfizer and BioNTech publish data from in vitro stu…

Pfizer Inc. (NYSE: PFE) and BioNTech SE (Nasdaq: BNTX) today announced the publication in Nature Medicine of data from in vitro studies that demonstrate that sera from in...

Sinovac receives conditional marketing authorizati…

Sinovac Biotech Ltd. (NASDAQ:SVA) ("Sinovac" or the "Company"), a leading provider of biopharmaceutical products in China, announced that the China National Medical Produ...