- Pfizer Inc PFE and Clear Creek Bio Inc announced a research collaboration and exclusive license agreement to advance the discovery and development of potential SARS-CoV-2 papain-like protease (PLpro) inhibitors for the oral treatment of COVID-19. The financial terms were not disclosed.
- PLpro is an essential enzyme, along with the main protease (Mpro), which plays a vital role in viral replication.
- This program will expand Pfizer's anti-infective pipeline and, if successful, will complement Pfizer's existing portfolio of COVID-19 products with direct-acting antiviral agents against different SARS-CoV-2 targets.
- Related: National Institutes of Health's Long COVID Initiative To Assess Pfizer's Antiviral Pill As Potential Treatment.
- Pfizer already has a COVID antiviral pill Paxlovid, which the drugmaker expects to generate about $22 billion in revenue in 2022.
- Under the terms of the agreement, the two companies will work together to identify a PLpro candidate to progress into the clinic. At that time, Pfizer will be solely responsible for further development and commercialization activities.
- Clear Creek Bio will receive an undisclosed upfront payment and be eligible for additional potential milestone payments plus royalties on future product sales.
- Price Action: PFE shares are down 2.33% at $49.55 on the last check Tuesday.
- Photo Via Company
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.