Pfizer signs up to $511 million deal for Lpath's AMD treatment and $134 million accord for Phylogica's for peptide-based vaccines

US drug behemoth Pfizer (NYSE: PFE) - which just a couple of weeks ago dumped its chief executive Jeff Kindler (The Pharma Letter December 6) - went on something of a spending spree yesterday, revealing two multi-billion licensing deals, one with San Diego, USA-based Lpath (OTC.BB: LPTN) and the other with Australian biotechnology firm Phylogica (ASX: PYC), with the aim of boosting its R&D pipeline that has seen a number of recent failures and is facing impending patent expiries including that of its top-selling ever drug, the cholesterol lowerer Lipitor (atorvastatin).

In the first, Pfizer entered into an exclusive option for a worldwide license to develop and commercialize iSONEP, Lpath's lead monoclonal antibody product candidate, which is being evaluated for the treatment of wet age-related macular degeneration (wet AMD) and other ophthalmology disorders.

iSONEP is scheduled to begin a Phase Ib clinical trial in wet AMD patients with pigment epithelial detachment (PED), a complication of wet AMD, in the first quarter of 2011 and a Phase IIa clinical trial in wet AMD patients in the second quarter of 2011.