Pfizer, Icagen ink deal

Pfizer is investing up to $15 million in Icagen as part of a collaboration and licensing agreement covering potential pain meds. The companies will jointly develop drugs that target three sodium ion channels that mediate the nervous system's pain signals. Pfizer is on the hook for all development costs, but it gets exclusive rights to commercialize any products that arise. The deal sent Icagen shares soaring by more than 69 percent to $3.25, in early trading.

- see the release
- here's the report from the Triangle Business Journal

Related Articles:
Troubled Pfizer blueprints biotech venture effort. Report
What's next for Pfizer? Report
WSJ: Pfizer looks at restructuring R&D, new cuts. Report
Troubled Icagen gains $22M in financing. Report

Suggested Articles

Pfizer isn't giving up in biosims. This week, it unveiled launches to three Roche blockbusters, with two already on the market.

Novo Nordisk is betting big on GLP-1 Saxenda in its global obesity push, but England's cost watchdog is unimpressed with the drug's long-term outlook.

Tecentriq didn’t show benefit against simple observation at delaying cancer recurrence or death in patients with muscle-invasive urothelial cancer.