Pfizer secures option for Parkinson's disease treatments from MedGenesis
Pfizer Inc. has entered into an agreement with MedGenesis Therapeutix for potential Parkinson's disease treatments. The deal grants Pfizer an exclusive worldwide option to leverage MedGenesis' GDNF protein and convection enhanced delivery (CED) technology.
New York, USA – Pharmaceutical giant Pfizer Inc. announced an agreement with biotechnology firm MedGenesis Therapeutix that grants Pfizer an exclusive worldwide option to license MedGenesis' glial cell-derived neurotrophic factor (GDNF) protein and its convection enhanced delivery (CED) technology. The collaboration focuses on potential treatments for Parkinson's disease.
MedGenesis is currently conducting a proof-of-concept study for Parkinson's disease utilizing its GDNF and CED technology. The company has previously received grant support from the Michael J. Fox Foundation for Parkinson's Research and from Parkinson's UK for investigator-sponsored trials.
Through this agreement, Pfizer aims to advance potential therapies for neurological conditions where treatment options are limited. "We believe that this collaboration has the potential to provide the first disease-modifying treatment that slows the progressive decline in patients," stated Michael Ehlers, Senior Vice President of Pfizer's Neuroscience Research Unit.
MedGenesis CEO Erich Mohr highlighted the potential of precisely delivered therapies for central nervous system diseases. Under the agreement's terms, MedGenesis will receive an upfront option fee and is eligible for further milestone payments and royalties if Pfizer exercises its option. The financial details of the agreement were not disclosed.