GlycoMimetics to get $20 million from Pfizer on rivipansel progress
US biotech firm GlycoMimetics (Nasdaq: GLYC) says it is about to get a milestone payment from pharma giant Pfizer (NYSE: PFE) under its rare diseases collaboration worth a potential $340 million (The Pharma Letter October 12, 2011).
Pfizer has dosed the first patient in the RESET (Rivipansel: Evaluating Safety, Efficacy and Time to Discharge) study – a Phase III clinical trial assessing the efficacy and safety of rivipansel for the treatment of vaso-occlusive crisis (VOC) in patients hospitalized with sickle cell disease who are six years of age or older.
The start of this trial triggered the second of two milestone payments from Pfizer to GlycoMimetics totaling $35 million for Phase III initiation. GlycoMimetics received a $15 million milestone payment from Pfizer in May 2014.
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