WAVE Life Sciences inks deal worth more than $900 million with Pfizer on metabolic diseases
USA-based WAVE Life Sciences (Nasdaq: WVE) saw its shares rise 5.95% to $15.50 yesterday, after it announced a collaboration with pharma giant Pfizer (NYSE: PFE) that could potentially earn the company more than $900 million.
The research, license and option agreement with Pfizer is for the potential development of nucleic acid therapies aimed at silencing the underlying causes of debilitating metabolic diseases. The collaboration will focus on genetically defined targets and bring together WAVE’s proprietary stereopure drug development platform, across antisense and RNAi modalities, along with GalNAc and Pfizer’s hepatic targeting technology for enhanced delivery to the liver.
$40 million upfront, of which $30 million is an equity investment
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