Pfizer Inc. (“PFE”) and TCG Lifesciences Limited (“TCGLS”) announce today that they have entered into a collaboration to develop a portfolio of preclinical candidate molecules in a series of discovery target programs.
TCGLS, which has a significant presence in Asia, will develop the compounds up to the nomination of preclinical candidates, encompassing medicinal chemistry, parallel medicinal chemistry, in-vitro ADME, in-vivo pharmacology, and preliminary safety and toxicology.
Pfizer will own the compounds, and TCGLS will receive research funding and will be eligible to receive research milestone payments as part of the partnership arrangement.
“We are very excited about this research collaboration. By combining Pfizer’s scientific leadership and drug discovery experience with TCGLS’ project management and scientific capabilities, we continue to expand our discovery capabilities and increase the likelihood and speed of developing new medicines for patients in need,” saidRod MacKenzie, senior vice president, Head of Worldwide Research, PharmaTherapeutics, Pfizer Inc. “This investment further strengthens our R&D partnership network in Asia and its emerging market countries, which is an important component of our R&D strategy.”
“We are also excited to partner with Pfizer and assist them in the effort to discover a series of preclinical candidates,” said Mr. Swapan Bhattacharya, managing director, TCG Lifesciences Limited. “This agreement serves as a testament to our growing capacity and capabilities to provide high-end integrated discovery services in the global arena and to align our strategic focus with the goals of our partners.”
About Pfizer Inc: Working together for a healthier world™
At Pfizer, we apply science and our global resources to improve health and well-being at every stage of life. We strive to set the standard for quality, safety and value in the discovery, development and manufacturing of medicines for people and animals. Our diversified global health care portfolio includes human and animal biologic and small molecule medicines and vaccines, as well as nutritional products and many of the world’s best-known consumer products. Every day, Pfizer colleagues work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases of our time. Consistent with our responsibility as the world’s leading Biopharmaceutical Company, we also collaborate with health care providers, governments and local communities to support and expand access to reliable, affordable health care around the world. For more than 150 years, Pfizer has worked to make a difference for all who rely on us. To learn more about our commitments, please visit us at www.pfizer.com.
About TCG Lifesciences Limited
TCG Lifesciences Limited is a leading research services and informatics company with operations in India, Europe, Japan and the United States. It is part of The Chatterjee Group, a global investment conglomerate headquartered in New York. TCG Lifesciences Limited (“TCGLS”) collaborates to service the multi-disciplinary research efforts of global pharmaceutical and biotechnology companies through its 3 units Chembiotek (Discovery Research), Clininvent (Clinical Research Solutions) & LabVantage (Enterprise Informatics). It has trust based relationships with majority of the global pharmaceutical companies. The relationships span from specific solutions and sourcing services to integrated projects across multiple domains to complete translational research programs in the drug discovery and development space.
PFIZER DISCLOSURE NOTICE: The information contained in this release is as of January 05, 2010. Pfizer assumes no obligation to update forward-looking statements contained in this release as the result of new information or future events or developments.
This release contains forward-looking information that involves substantial risks and uncertainties about a collaboration between Pfizer and TCG Lifesciences Limited to develop preclinical drug candidates. Such risks and uncertainties include, among other things, the uncertainties inherent in research and development; decisions by regulatory authorities regarding whether and when to approve any drug applications that may be filed for any such drug candidates as well as their decisions regarding labeling and other matters that could affect the availability or commercial potential of such drug candidates; and competitive developments.
A further description of risks and uncertainties can be found in Pfizer’s Annual Report on Form 10-K for the fiscal year ended December 31, 2008 and in its reports on Form 10-Q and Form 8-K.
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