BioWorld International Correspondent

PARIS - Pfizer Inc. selected a compound for development under the terms of its collaboration with NicOx SA, triggering a €2 million payment.

The research, development and licensing agreement signed by the companies in August 2004 provides for Pfizer, of New York, to evaluate certain nitric oxide-donating compounds of NicOx in ophthalmology.

The research stage of the collaboration, which was conducted jointly, called for NicOx, of Sophia-Antipolis, France, to synthesize a number of nitric oxide-donating compounds, which then were subjected to an extensive series of preclinical screening and characterization tests by Pfizer. Several compounds were found to fulfill a number of key criteria laid down by the American company, demonstrating superior activity compared to reference compounds in established in vivo models of eye diseases.

Pfizer now has selected a candidate for development from among those compounds and exercised its option to acquire exclusive worldwide development and commercialization rights to it. It will handle and fund all future development work.

NicOx CEO Michele Garufi welcomed the fact that the collaboration had "resulted in the successful identification of a lead candidate for development in only 15 months." There is no limit to the number of compounds Pfizer can select.

Taking account of the latest payment, NicOx so far has received €4 million from the collaboration and could receive another €33 million, plus royalties, if a product reaches market.