Pfizer (PFE +0.3%) enters into a global license and collaboration agreement with eFFECTOR Therapeutics aimed at developing small molecule eukaryotic initiation factor 4E (eIF4E) inhibitors for the treatment of cancers with poor prognoses and resistance to certain therapies.
Under the terms of the partnership, PFE will pay TXMD $15M upfront, up to $492M in R&D funding and milestones and royalties on net sales. TXMD will have the option to co-promote and share P&L in the U.S.
TXMD says eIF4E, an effector protein, is a highly oncogenic and historically intractable target that is activated in range of treatment-resistant cancers.
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