Through a strategic collaboration, Pfizer Inc. (NYSE:PFE) will work hand in hand with Johnson & Johnson’s (NYSE:JNJ) I/O Biotech Ab Initio in the discovery of G-protein coupled receptor (GPCR) activating antibodies. The financial terms of the deal were not disclosed, but it will facilitate the funding of the fledgling company’s platform expansion.
Ab Initio, which was part of Johnson & Johnson’s Bay Area biotech incubator program, will use its GPCR antibody discovery platform, a move that will help engineer antibodies that stimulate the targeted GPCR.
Apparently, the highest percentage of a majority of today’s prescription drugs target one or more GPCRs. In fact, some estimations indicate a range of 30% to 50% given that they have regulatory roles in physiological processes.
Exclusive worldwide rights for Pfizer
The collaboration will result in giving Pfizer exclusive global rights, which will include the development and commercialization of any GPCR activator antibodies. Also, it will make a strategic investment in Ab Initio in an amount which is not known but Ab Initio will get an upfront fee and research support. This will be accompanied by milestone payments and tiered royalties on future sales of any products emanating from the partnership.
Responding to Pfizer’s move, Kenneth Lin, president and CEO of Ab Initio acknowledged, “We are pleased to partner with Pfizer as we seek to further validate the potential of our platform for discovering antibody-based drugs against the GPCR family. Pfizer shares our vision for generating new therapies for inadequately addressed diseases, and we welcome them to our select group of investors.”
Ab Initio will also make a significant contribution in opening new paths
Ab Initio has in-depth know-how in GPCR biochemistry and protein engineering according to a Company’s Board of Directors member Timothy A. Springer. Thus it is expected that it will play a significant role in taking the entire new therapeutic approach to a higher level. Springer emphasizes that this is just the beginning of unearthing efforts for advancing modulators of many additional GPCR targets.
Meanwhile, Pfizer closed at $32.82 a decrease of $0.01 or 0.03%.