Pfizer enters into collaboration with Cytos
15 Aug 2008
Cytos Biotechnology has announced that it has entered into a global research and licence agreement with Pfizer.
The collaboration will enable Pfizer to commercialise certain vaccines which are based on Cytos Biotechnology's Immunodrug technology.
Cytos Biotechnology is to receive an upfront payment of ten million Swiss francs (£4.9 million), with the potential for additional milestone payments and other fees to the value of up to 140 million Swiss francs.
Dr Mark Dyer, executive vice-president of business development at Cytos Biotechnology, suggested that vaccines represent an increasingly attractive segment of the healthcare market.
He added: "This collaboration with Pfizer further establishes Cytos Biotechnology's Immunodrugs as the vaccines of choice for top-tier pharmaceutical companies and complements our ongoing collaboration with Pfizer Animal Health."
Meanwhile, Pfizer recently reported it had seen revenues of $12.1 billion (£6.5 billion) in the second quarter of the year.
The figure for the same period in 2007 was $11.1 billion.
