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January 14, 2016.
Pfizer and the California Institute for Biomedical Research (Calibr), a nonprofit translational research institute, have entered into a global strategic collaboration to develop novel antibody-based therapeutic agents for the treatment of heart failure.
Under the terms of the agreement, Pfizer has the option to obtain an exclusive license to certain antibody-based therapeutic agents following Phase 1 clinical studies to be performed by Calibr. The studies will include evaluation of safety and pharmacodynamics in healthy volunteers and patients with heart failure.
Calibr will receive an upfront payment and be eligible for additional pre-exercise milestone payments leading up to the completion of Phase 1. Upon exercise of the exclusive licensing option by Pfizer, Calibr will receive an option exercise fee and be eligible for development and commercial milestones, as well as tiered royalties on net sales of any potential products.